Insiders: Polychain, dao5, and DCG hold hundreds of millions of TAO tokens

ChainCatcher news, according to a report by Fortune magazine citing informed sources, the venture capital firm Polychain, founded by former Coinbase employee Olaf Carlson Wee, incubated Bittensor in 2019, and currently holds approximately $200 million in Bittensor tokens.

In addition, the investment fund Dao5, founded by Polychain alum Tekin Salimi, holds about $50 million in TAO and is an early supporter of the Bittensor ecosystem.

It is reported that the Digital Currency Group (DCG) is another supporter of the protocol, holding about $100 million in TAO. A DCG spokesperson declined to comment. In a 2021 article by Business Insider, DCG investor Matthew Beck recommended Bittensor as one of the 53 most promising crypto startups.