Complying with U.S. securities law made the startup's "stablecoin" look too much like other price-pegged cryptocurrencies. : Formerly known as Basecoin, Basis raised $133 million in venture capital earlier this year to develop a so-called stablecoin, a cryptocurrency whose price remains fixed, despite market volatility. The company said in a post on its website Thursday that it would return the remainder of its funds to investors, including Andreessen Horowitz, Lightspeed Venture Partners, and GV, the venture capital arm of Alphabet, Google’s parent company.