People familiar with the matter: Polychain, dao5 and DCG hold hundreds of millions of dollars in TAO tokens
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.
You may also like
Ethereum Boosts Altcoin Surge with Significant Rally
In Brief Ethereum surged nearly 20%, fueling a broader altcoin rally. Technical indicators show strength, yet new altcoin season debate persists. Growth in ETH and altcoins challenges Bitcoin's dominance amid market shifts.
Ethereum Outshines Bitcoin with Impressive Surge
In Brief Ethereum's price surged past $1,900, outpacing Bitcoin significantly. Institutional investments drove Ethereum's substantial upswing post-Pectra update. Potential record surge may push Ethereum above $6,000, exciting cryptocurrency enthusiasts.
Crypto Boom: Bitcoin Surges Amid Dramatic Market Shifts
In Brief Bitcoin has surged past $103,000, with altcoins seeing noteworthy gains. Strategists recommend seizing buying opportunities during altcoin corrections. Anticipated events could bring further volatility to crypto markets.
Hedera (HBAR) To Rise Further? Key Breakout Signals Potential Upside Move
Trending news
MoreCrypto prices
More
