The proposal to fund ZachXBT with 100 ETH from the House of Nouns Treasury was passed nearly unanimously, with 180 members in support and 20 voting against it. The donation was proposed by Bitwise’s co-founder and chief technical officer Hong Kim, aka Noun 40 on Twitter, who stated that the industry needs more people like ZachXBT to expose bad actors early.
“ZachXBT is a public good serving the crypto ecosystem through tireless research exposing countless scams. Recent events have highlighted the dire need and importance of such work. This prop proposes to fund 100 ETH to their donation address: zachxbt.eth,” the proposal reads.
“It will mostly remain unspent in case the bear market lasts for an extended period of time. Also plan on hiring a dev intern in the coming months. Potentially will upgrade some of my equipment too,” the detective tweeted.
ZachXBT is a prolific on-chain investigator who leverages their knowledge to unmask scammy VCs, founders, and influencers. Their famous exposes include BitBoy Crypto, Elliot, Tai Lopez, and many others.
“After falling victim to similar things as a newcomer during the last crypto bull-run cycle I began to experience deja vu as I noticed it all start to occur once again. I eventually became fed up and decided to research and document the shady things that go on to hopefully educate as many people as possible and increase transparency in the space,” ZachXBT wrote about themselves in a Gitcoin grant proposal.
The Nouns DAO is the main governing body of Nouns, the art project that auctions one pixel NFT every 24 hours. All proceeds from NFT sales go to the House of Nouns Treasury that currently holds 28,523 ETH. So far, the Nouns DAO has already donated 169 ETH to Gitcoin grants in January and 500 ETH to Ethereum protocol development in July.