BofA update shows where active managers are putting money
LONDON - TAO Alpha PLC announced Tuesday it has secured a £5 million fixed-price convertible loan and established a new bitcoin-focused treasury policy as part of its strategy in the decentralized AI and cryptocurrency sectors.
The company has set up a new Singapore subsidiary, Tao Alpha PTE. LTD, which will hold its treasury assets. Under the new treasury policy, up to two-thirds of the company’s cash may be held in bitcoin and stablecoins, according to the press release statement.
The £5 million funding was arranged through the company’s newly appointed broker, Fortified Securities. The convertible loan carries no interest or fees and will automatically convert to equity at £0.002 per ordinary share upon shareholder approval and admission to the Main Market, with a longstop date of August 30, 2025.
As part of the agreement, investors will have the right to appoint two directors to the board until the investment converts into equity. The loan is secured by a first-ranking debenture and has a maturity date of November 30, 2025, if automatic conversion hasn’t been triggered by then.
TAO Alpha stated that the funding will be used to accelerate growth within the existing Bittensor decentralized open-source network and drive further development in the AI-enabled cryptocurrency sector, including increasing developer headcount.
The company is finalizing execution of the investment documents, with one syndicate member’s signature still pending as of June 17, 2025.
Singapore was selected as the location for the new treasury subsidiary due to what the company described as favorable tax and regulatory conditions for managing digital assets.
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