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.