General Tensor has completed the acquisition of Backprop Finance, a subsidiary of Tensorplex Labs

TNSR0%
TAO0%

BlockBeats News, May 15th - General Tensor announced the completion of the acquisition of Backprop Finance, a subsidiary of Tensorplex Labs. Backprop Finance is one of the largest decentralized exchanges in the Bittensor ecosystem. Post-acquisition, General Tensor will account for approximately one-third of the trading volume on the Bittensor network.

Previously, General Tensor had raised a total of $5 million through Pre-Seed and Seed rounds. Investors included Digital Currency Group (DCG), Lvna Capital, and Good Morning Holdings led by Lok Lee and backed by Goldman Sachs. Backprop Finance currently primarily serves the Bittensor Dynamic TAO (dTAO) subnetwork Alpha token trading, providing token swaps and subnetwork filtering.

Source: BlockBeats

Disclaimer: The current content is sourced from third-party perspectives or directly translated by AI from third-party perspectives. CoinEx does not guarantee the authenticity, accuracy, and originality of the content, and it does not constitute any investment advice from CoinEx. The prices of cryptocurrencies are highly volatile, please be aware of the potential risks.