xTAO Token Lists on TSX Venture Exchange to Boost Liquidity
Bittensor’s decentralized AI startup xTAO has begun trading on Canada’s TSX Venture Exchange under the ticker TAO after raising $22.8 million in a funding round led by Digital Currency Group and Animoca Brands. The public listing follows due diligence and marks a significant step in Bittensor’s market expansion, aimed at enhancing token liquidity for institutional and retail investors. Proceeds will support validator node growth, R&D hires, and TAO token reserves. The firm will maintain robust cash-plus-token reserves to mitigate volatility. As a key validator on Bittensor’s blockchain, xTAO audits AI models and data quality, contributing to a modular decentralized AI network. The TAO token has surged nearly 45% in the past month, trading around $456. This listing underscores Bittensor’s commitment to transparency, compliance, and North American market adoption.
Bullish
Listing xTAO on a regulated exchange enhances market access, liquidity and institutional confidence. The strong $22.8M fundraising and a rising token price suggest growing demand. In the short term, increased trading volume and visibility may drive further price appreciation. Over the long term, Bittensor’s cash-plus-token strategy and regulatory compliance support sustained growth and market stability for TAO.