Basis, backed with $133 million from top VCs to build a price-stable cryptocurrency, says it’s shutting down and returning the money – TechCrunch

Earlier this year, we told you about a now 18-month-old, Hoboken, N.J.-based cryptocurrency startup working on a “stable coin” whose elastic supply would ostensibly expand and contract to keep its value at about a dollar instead of all over the map. The company’s big idea: to develop a new token that people would actually use,…