Safello, a cryptocurrency exchange in the Nordics, has listed its physically backed and staked TAO Exchange Traded Product (ETP) on the SIX Swiss Exchange. Announced on Wednesday, this latest launch is part of the company’s strategy to broaden access to Bittensor (TAO) exposure across Europe. The product is now available for trading in U.S. dollars on European trading platforms and through major online brokers. The ETP, formally named the Safello Bittensor Staked TAO ETP, is issued by DDA ETP AG under a p ...

Key Points A Bittensor halving and a key ETP launch in Europe led to big gains in Bittensor earlier this week. However, macro forces and other crypto-related concerns appear to be hampering investor sentiment today. Here's what drove today's marked sell-off in this machine learning and artificial intelligence (AI) blockchain project. 10 stocks we like better than Bittensor › Much ado has been made of the rise of artificial intelligence (AI) and the so-called AI stocks that have enabled a new tech ...

Core Insights - Synaptogenix, Inc. is launching a cryptocurrency treasury strategy focused on the AI token TAO, which is the leading AI token by market capitalization and adoption [1][3] - The company plans an initial acquisition of $10 million in TAO tokens, which is over twice its current market capitalization, with a total target of $100 million [2][3] - James Altucher, a recognized expert in cryptocurrency and AI, will lead the strategy aimed at generating revenue through staking yield and token appreciation [1][4] Company Strategy - The initial acquisition of TAO will be funded by the company's significant cash reserves and well-capitalized balance sheet [2] - The Board of Directors has been exploring value creation opportunities to utilize cash reserves effectively, noting the trend of companies allocating digital assets to their treasuries [3] - The fixed market supply of 21 million TAO tokens, combined with increasing global demand for AI, positions TAO as a compelling cryptocurrency [3] Leadership and Expertise - James Altucher brings extensive experience in emerging technologies, including being an early proponent of Bitcoin and having published numerous academic papers on AI [4] - Altucher expressed optimism about the AI industry's expected tenfold growth by 2030 and the role of decentralized AI, where TAO is a leader [5] Token and Network Overview - TAO is the native token for Bittensor, a decentralized blockchain network designed for machine learning and AI, which incentivizes participants based on their contributions [6] - The network aims to democratize AI development by rewarding participants with TAO tokens for their valuable contributions [6] Corporate Changes - Synaptogenix plans to change its name and ticker symbol to align with its digital asset treasury strategy focused on TAO [7] - A new corporate website is under development, with more information expected in the coming months [7] Financing Details - The company has entered into securities purchase agreements for a $5.5 million financing, involving the sale of Series D convertible preferred stock [8] - The Series D preferred stock has a conversion price of $3.00 per share, and the associated warrants also have an exercise price of $3.00 per common share [9]