CoinDesk Article Confirms Bullish Fundamentals for $TAO (Substantive Analysis Here - Read)

Okay, so looks like Barry had his coming out party re: "Yuma Group" just a couple days ago (I missed it; wasn't paying attention).

You can read about that here: https://www.coindesk.com/business/2024/11/20/digital-currency-groups-barry-silbert-bets-big-on-ai-blockchain-bittensor/

If you don't have the time / too lazy, don't worry, I got all of the relevant information you should have extracted from that article (that includes from the links in the article that a good researcher would follow to get a more holistic picture).

Here are some cliff notes (from me in my own words - I don't use AI generated summaries because only a human being in live time will know what the most important + relevant information to extract from a piece like this would be when placed in context):

1. Article starts off with a bullet pointed summary highlight proclaiming, "DCG chief and Yuma CEO Barry Silbert said he believes Bittensor could be as transformative as bitcoin." That's a hyperbolic statement if I've ever heard one, but I guess it goes to show how invested Barry is in this venture.

2. "Yuma will operate as an accelerator for startups looking to explore Bittensor, and as an incubator to partner up and build subnets." (so you know the relationship between this 'Yuma' entity and Bittensor and why it should translate to price appreciation)

3. Article notes that DCG invested in Bittensor way back in 2021 (interesting; forgot it was a portfolio company of theirs - this makes their listing on Coinbase that much more of a 'shoe in').

4. Article notes that Grayscale added an AI-related fund (Trust) that includes this asset in it. More details about that fund are covered in another article they published here. You can find out more raw information about the fund itself here via the press release Grayscale published announcing its inception. Raw information + metrics on this investment vehicle can be found on Grayscale's site here (still with a 2.5%+ management fee, which is steep as fuck! But Grayscale has some loyal customers, I suppose)

4a. The asset '$TAO' is the second-highest weighted asset in that index (22.04%). The highest weighted asset is $NEAR (from the Near Protocol) which takes up 30.13% of each basket issued by the fund. The other assets included in this fund are $GRT, $REN and $FIL (Graph Protocol, Render and Filecoin, respectively).

5. The significance of the 'Yuma Group' relative to Bittensor was likened to the impact of Consensys to Ethereum. If you've been following this channel for a little while, then you've probably read more than a few mini-gripes from me about how much centralized control Consensys has been able to exert on the entire Ethereum ecosystem. Cutting straight to the point here - Consensys is essentially responsible for establishing most of the ecosystem that Ethereum has (i.e., Infura, Metamask, GETH development, core dev funding for Ethereum etc.). So if 'Yuma Group' is serving an analogous role to that, then its safe to say that they will be the invisible hand that steers Bittensor (they're just doing it at an 'arms length' away from Barry and his entities directly, as they say in the financial world).