xTAO Surpasses Synergies as Largest Public Holder of TAO Tokens
xTAO Holdings has taken the lead as the largest public holder of TAO tokens after acquiring a $16 million position. This milestone was achieved when xTAO revealed it holds 41,538 TAO tokens worth $15.8 million.
This surpasses TAO Synergies (TAOX), which recently acquired 29,899 TAO for $10 million. CEO Karia Samaroo, who previously founded crypto exchange WonderFi before its $180 million acquisition by Robinhood, leads the company.
xTAO earns approximately 10% annual yield from staking its TAO holdings to the Bittensor root network. The company launched on Canada's TSX Venture Exchange last week after closing a $22.8 million funding round from Digital Currency Group and Animoca Brands.
The firm plans to use its treasury to expand validator operations and develop Bittensor ecosystem infrastructure.