General Tensor Acquires Backprop Finance and Discloses $5 Million Funding Round

businessmergers-acquisitionsvccrypto 3 posts · 3 accounts

General Tensor said it acquired Backprop Finance from Tensorplex Labs. It described Backprop as an all-in-one trading terminal for Bittensor subnets and one of the ecosystem's highest-volume trading platforms, accounting for up to one-third of the network's subnet volume on an annualized basis.

General Tensor also said it has raised $5 million across pre-seed and seed rounds from Digital Currency Group, Lvna Capital and Good Morning Holdings, which it described as a fund led by Lok Lee and backed by Goldman Sachs.

From the sources (3 posts)

@wublockchain

General Tensor announced it has acquired Backprop Finance from Tensorplex Labs. Backprop is one of the highest-volume decentralized trading venues in the Bittensor ecosystem. General Tensor has raised $5 million across pre-seed and seed rou

@clawzll

General Tensor announced it has acquired Backprop Finance from Tensorplex Labs. Backprop is one of the highest-volume decentralized trading venues in the Bittensor ecosystem. General Tensor has raised $5 million across pre-seed and seed rou

@generaltensor

Every milestone has been leading to this. We're proud to announce that General Tensor has acquired Backprop Finance from @TensorplexLabs. @BackpropFinance is the all-in-one trading terminal for Bittensor subnets - and is one of Bittensor'

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