TechFlow news, July 31 — According to The Block, xTAO, a publicly traded company focused on Bittensor, announced it holds 41,538 TAO tokens, worth approximately $15.8 million at current prices, making it the largest publicly traded holder of TAO.
The company is led by Karia Samaroo, founder of cryptocurrency exchange WonderFi. xTAO stated that staking TAO on the Bittensor root network yields an annualized return of about 10%. The company plans to use its TAO reserves to scale up validator operations and develop infrastructure for the Bittensor ecosystem.
Notably, xTAO listed last week on the TSX Venture Exchange (TSXV) in Toronto, Canada, after securing $22.8 million in funding from institutional investors including Digital Currency Group and Animoca Brands.
