Bitcoins are scarce digital commodities that enable parties to transmit messages over a network that serves as a universal public ledger. Bitcoins fall within the definition of “commodity” under the Commodity Exchange Act (CEA) such that derivatives contracts that reference bitcoins are...

This Article argues that governance problems with distributed autonomous organizations (DAOs) can be addressed by adopting governance mechanisms from hedge funds.DAOs provide a means for individuals to coordinate their business and other activities without traditional legal entities, managerial...