Libre Blockchain

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).

$TAO is Bullish - Would Purchase Right Now for a Short-Term Quick Flip

Publishing an article right now going over all of the reasons why, but in short:

1. Saw an alert from the '@BigCryptoAlert' bot on Twitter that Barry Silbert (founder & owner of the almight DCG conglomerate & affiliated entities) had followed some character named '@nordin.eth'.

2. This '@nordin.eth' character on Twitter has been proselytizing for $TAO (aka Bittensor) for quite some time. Initially, I waved it off as an insignificant coincidence of events.

3. Went back to Barry Silbert's bio and noticed that he added himself as "Founder/CEO of '@YumaGroup'" on there. I found that curious, so I went to investigate what this 'YumaGroup' entity was.

4. On their Twitter profile, their bio simply states; "Accelerating decentralized intelligence on #bittensor".

They only have 32 followers right now, which I found to be extremely curious since this entity is linked directly in Barry Silbert's bio. It is a legitimate entity, however (obviously) and since Barry Silbert is claiming ownership over the entity (in his Twitter bio, no less), this implies that he has significant involvement with the venture (which is singularly dedicated to 'accelerating' the Bittensor ecosystem).

Therefore, we must deduce that Barry Silbert himself has thrown his weight behind the Bittensor protocol. If this is true, that's the most bullish news that this project has received in...probably ever (correct me if I'm wrong on this).

There's more information supporting this conclusion that I came to but in the interest of timing (since the markets move quick and the position you can enter in at the time of writing may not be as sweet as the one you might get into in an hour or so when I finish publishing an article on this), I'm dropping this food for thought for anyone that's interested in what appears to be a relatively safe pick-up. Bittensor ($TAO) is currently in the top 35 in terms of market cap.

Also, with Barry Silbert's involvement, I wouldn't rule out an impending Coinbase listing soon as well (if you're not sure why I made this connection, have no fear - this will be clarified in the article that I publish soon as well).

Currently $TAO is trading at $538.83. Just marking this down so when it does shoot up in price, I can come back to this post and do the typical "I told you so" and "why did you ignore this information I disseminated" gloat channels still love doing these days.

Solana ETF Filing is Bullish - On Track for Approval

Here we go: https://cointelegraph.com/news/bitwise-registers-solana-etf-delaware

Spot Bitcoin ETF Options + AGs’ Litigious Action Against SEC / Gensler

We’ll be discussing the potential impact of Bitcoin ETF options very soon. It seems that we’re going to be running into an era where the CFTC will start earning increased jurisdiction over the crypto space.

Initially, when Gensler took office he tried to exert authority over every aspect of the crypto markets. However, derivatives and options are really supposed to fall under the jurisdiction of the CFTC. One could argue that this should extend to DeFi as well (which Gensler got a jump on early into his tenure).

The CFTC’s extension into the domain of crypto markets would be favorable for those that are anti-regulation as they rarely exert enforcement or regulatory measures (at least not as often as the SEC has). Also, let’s not forget that Gensler & the SEC are being sued by multiple different states for supposed overreaches in enforcement overreach.

More info on the lawsuit by multiple Attorney Generals against the SEC can be found here: https://thehill.com/policy/technology/4991491-gary-gensler-crypto-enforcement/amp/