Mentioned:
Barry Silbert has been a visionary entrepreneur in the Bitcoin ecosystem. Now, he’s coming after Bittensor next.
What’s happening:
- Billionaire and digital asset entrepreneur Barry Silbert has launched a new company Yuma as a subsidiary of DCG to focus on backing innovative startups building new technology on the Bittensor network
The big idea:
- Yuma will be both an accelerator and an incubator for new startups and protocols being built on Bittensor
- Bittensor is a decentralized platform for building artificial intelligence models and machine learning technology directly onto the blockchain
Why it matters:
- Barry Silbert is the founder of DCG which is the parent company of Grayscale and has also invested in hundreds of crypto focused startups
- DCG was also previously was a first mover in building exposure to Bitcoin through the traditional public markets, growing the Grayscale Bitcoin Trust (NYSE: GBTC) to billions in assets under management
Going deeper:
- Grayscale also recently launched a private investment fund focused on the convergence of artificial intelligence and digital assets, of which Bittensor was one of the largest initial holdings
The intrigue:
- DCG was also one of the earliest investors into Bittensor and has been deeply involved with the network since inception
