Nader Al-Naji

From CryptoCurrency Wiki


"Al-Naji, a former Google engineer who is still only in his twenties, made a splash on the crypto scene in 2018 with another ambitious project that also proved controversial: Basis, which purported to offer an algorithmic stablecoin and raised over $130 million from the likes of GV (Google Ventures), Andreessen Horowitz and Bain Capital. Despite such backers and a spate of hype, Basis closed up shop only months later amid regulatory concerns and skepticism about the viability of its stablecoin. Al-Naji returned the remaining money to his investors, a move that signified to many that he misfired on Basis, but was not dishonest."