People familiar with the matter: Polychain, dao5 and DCG hold hundreds of millions of dollars in TAO tokens

ChainCatcher2024/04/15 15:40

By: ChainCatcher

ChainCatcher news, according to Fortune magazine citing people familiar with the matter, Polychain, a venture capital firm founded by early Coinbase employee Olaf Carlson Wee, incubated Bittensor in 2019. The company currently holds about $200 million in Bittensors tokens.

In addition, Dao5, an investment fund founded by Polychain alumnus Tekin Salimi, holds an approximately $50 million stake in TAO and is an early supporter of the Bittensor ecosystem.

It is reported that Digital Currency Group is another supporter of the agreement and holds approximately US$100 million in TAO. A DCG spokesman declined to comment. In a 2021 Business Insider article, DCG investor Matthew Beck recommended Bittensor as one of the 53 most promising crypto startups.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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People familiar with the matter: Polychain, dao5 and DCG hold hundreds of millions of dollars in TAO tokens

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