Crypto group seeks to purchase basketball team

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A group of cryptocurrency investors is raising money to buy a basketball team.

The Krause House DAO ― named after Jerry Krause, the late Chicago Bulls general manager — raised just over $800,000 within 15 minutes after launch last week. The figure is now in the millions.

However, the least valuable NBA franchise, the Memphis Grizzlies, is worth some $1.5 billion.

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