WuBlockchain
General Tensor has acquired Backprop Finance from Tensorplex Labs, bringing one of the highest-volume decentralized trading venues in the Bittensor ecosystem under its roof. The move consolidates two of the more active builders in the AI-native DeFi space into a single entity.
General Tensor has raised $5 million across pre-seed and seed rounds, with backing from Digital Currency Group, Lvna Capital, and Good Morning Holdings — the latter a fund led by Lok Lee and supported by Goldman Sachs. That investor lineup signals serious institutional conviction in the Bittensor DeFi stack at an early stage.
Backprop Finance's trading volume credentials give General Tensor an immediate market-share anchor, while the DCG and Goldman-adjacent capital gives it the runway to build out infrastructure across the broader Bittensor subnet landscape.
TheBlock
CoinDesk