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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Bitcoin strongly rebounded by 6.8% on December 3 to $92,000, while Ethereum surged 8% to break through $3,000, with mid- and small-cap tokens seeing even larger gains. The market rally was driven by multiple factors, including expectations of a Federal Reserve rate cut, Ethereum’s technical upgrades, and policy shifts. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative updates.

MarsBit•2025/12/03 08:33

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

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