General Tensor completes the acquisition of Backprop Finance under Tensorplex Labs

General Tensor announced the completion of its acquisition of Backprop Finance, a subsidiary of Tensorplex Labs, which is one of the largest decentralized trading platforms by trading volume in the Bittensor ecosystem. After the transaction is completed, General Tensor will cover about one-third of the trading volume on the Bittensor network.

Previously, General Tensor had raised a total of $5 million through Pre-Seed and Seed rounds, with investors including Digital Currency Group (DCG), Lvna Capital, and Good Morning Holdings, which is led by Lok Lee and supported by Goldman Sachs. Backprop Finance currently mainly serves the trading of Bittensor Dynamic TAO (dTAO) subnet Alpha tokens, providing token exchange and subnet screening.