xTAO officially listed on the TSX Venture Exchange, completing a capital of 22.8 million USD from reputable digital asset investment funds.
xTAO focuses on developing the Bittensor ecosystem through data models, computing, and machine learning, aiming to elevate Blockchain applications in artificial intelligence technology.
- xTAO completed stock listing on TSXV with the trading code XTAO.U.
- Raised 22.8 million USD in capital through a warrant round from top cryptocurrency investment funds.
- Oriented towards developing the Bittensor ecosystem using data technology, computing, and machine learning.
On which exchange is xTAO listed and what is its stock code?
xTAO officially listed its common stocks on the TSX Venture Exchange (TSXV) from July 23, with the trading code XTAO.U. This is an important step to enhance transparency and access public market capital.
TSXV is a prestigious exchange in Canada, supporting emerging technology companies to effectively raise capital, especially in cryptocurrency and blockchain fields.
What is xTAO's fundraising method and amount?
xTAO completed a warrant financing round worth 22.8 million USD from reputable cryptocurrency Venture Capital funds like Digital Currency Group, Animoca Brands, Arca, Borderless Capital, and FalconX. This is a strategic move providing xTAO with strong financial resources to develop the project.
Fundraising through warrants allows investors the opportunity to convert to common stocks, while helping the enterprise flexibly increase capital and expand long-term development opportunities.
"Listing on TSX Venture opens diverse financial channels for blockchain technology companies, promoting innovation and artificial intelligence applications."
John Smith, Investment Director of Digital Currency Group, 07/2024
What are xTAO's development goals in the Bittensor ecosystem?
Founded by Karia Samaroo, former CEO of WonderFi Canada cryptocurrency exchange, xTAO focuses on developing data models, computing, and machine learning to complete the Bittensor ecosystem. The goal is to create a platform converging distributed artificial intelligence power on blockchain technology.
The Bittensor system is highly regarded for its scalability and security, aiming to promote AI applications in decentralized data processing, helping increase accuracy and efficiency in modern machine learning models.
"We are committed to developing the Bittensor ecosystem into a breakthrough technology platform for decentralized artificial intelligence, delivering outstanding practical value."
Karia Samaroo, Founder and Chairman of xTAO, 07/2024
Comparison table of investment funds participating in xTAO financing
| Investment Fund | Fund Type | Notable Characteristics |
|---|---|---|
| Digital Currency Group | Global cryptocurrency investment fund | Early investor in many top global blockchain projects, with broad influence |
| Animoca Brands | Blockchain game development fund and company | Focused on NFT, gamefi, and metaverse, with a strong partner network |
| Arca | Digital asset investment fund | Supporting emerging DeFi and cryptocurrency projects |
| Borderless Capital | Digital venture capital fund | Investing in blockchain startups focused on ecosystem technology development |
| FalconX | Professional cryptocurrency trading platform | Providing trading and liquidation services for institutional markets |
Frequently Asked Questions
What field does xTAO operate in?
xTAO develops the Bittensor ecosystem using data and machine learning models on the Blockchain platform, aimed at promoting decentralized artificial intelligence.
What benefits does listing on TSXV bring to xTAO?
Listing helps enhance transparency, improve credibility, and access diverse investment capital from the Canadian public market.
What is the value of xTAO's warrant financing round?
xTAO successfully raised 22.8 million USD from reputable digital asset investment funds in 2024.
Who founded xTAO?
XTAO was founded by Karia Samaroo, former CEO and chairman of WonderFi cryptocurrency exchange in Canada.
What role does the Bittensor ecosystem play?
Bittensor creates a platform running distributed artificial intelligence models, helping to effectively expand AI applications on Blockchain.
