Pray, Attend:
- Mr. Barry Silbert, the esteemed CEO of Digital Currency Group, proclaims that decentralized AI is “the next grand epoch of crypto.”
- His illustrious firm has generously bestowed over $105 million upon a multitude of deAI ventures, as he so candidly revealed in a missive.
In a most audacious display of confidence, the crypto investment magnate, Mr. Silbert, has placed his considerable faith in decentralized AI, declaring it to be “the next grand epoch of crypto,” one that may indeed eclipse the famed bitcoin in its significance. How delightful! 🎩
In a letter addressed to the shareholders of his crypto empire, Digital Currency Group, Mr. Silbert waxed lyrical about deAI: the noble pursuit of intertwining the marvels of AI with the venerable blockchain technology. He posits that this splendid amalgamation may yield far greater benefits for mankind than the rather insular systems being concocted by the likes of OpenAI and their ilk.
“We are transitioning from the digital proprietorship of assets to the decentralized proprietorship of intelligence, accompanied by the availability of vast decentralized computational resources,” Mr. Silbert articulated in his Q4 correspondence, which was most graciously reviewed by CoinDesk. How very profound! 🧐
The entire affair evokes memories of bitcoin, that illustrious cryptocurrency which first bestowed upon him his fortune. Yet, rather than a mere monetary revolution, deAI may herald a revolution of power, with crypto serving as the means to distribute ownership and governance over formidable AI models. Quite the ambitious vision, I must say!
Indeed, DCG appears to share this sentiment. The company has already invested a staggering $105 million into a plethora of deAI projects, and Mr. Silbert expressed his enthusiasm for amplifying this investment in the year 2025. How positively thrilling! 🎉
He particularly lauded DCG’s investment in Bittensor—a crypto network specializing in the arcane arts of machine learning and AI applications—as the portfolio company closest to achieving “escape velocity.” Bittensor’s TAO token, he noted, bears many resemblances to bitcoin. How charmingly reminiscent!
It is worth noting that TAO’s market capitalization stands at a mere $2.7 billion, a trifling sum when juxtaposed with bitcoin’s nearly $2 trillion valuation. One might say it is but a drop in the ocean! 🌊
DCG intends to invest handsomely in nurturing the Bittensor ecosystem. Mr. Silbert pointed out that in the month of November, they established a company named Yuma, dedicated to incubating Bittensor infrastructure projects. Furthermore, Grayscale, another esteemed company under the DCG umbrella, now offers investment products that provide exposure to TAO. How enterprising!
Mr. Silbert’s Q4 letter concluded a year of “rebuilding” at DCG, following a rather tumultuous period precipitated by the unfortunate FTX debacle, which brought down its lending enterprise, Genesis. DCG, once the proud owner of CoinDesk, divested itself to Bullish in late 2023. Remarkably, all five branches of DCG enjoyed a “successful 2024,” as he so cheerfully reported.
“The discipline necessitated over the past couple of years has resulted in enhanced infrastructure, more mature processes, improved governance, and a stronger organization focused on executing our growth initiatives,” Mr. Silbert concluded with a flourish. How splendidly optimistic!
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2025-02-07 23:07