Crypto
Home›Crypto›Market Structure›TaoWeave sold 3,959 TAO to cover operating expenses an…
TaoWeave sold 3,959 TAO to cover operating expenses and liquidity
The sales raised $1.172 million but booked a $114,000 net realized loss, and TaoWeave said it has no committed credit facility to fund expenses without selling TAO.
TaoWeave, formerly known as Oblong, said it sold 3,959.23 Bittensor TAO during the six months ended June 30 to fund operating expenses and manage liquidity, according to its Aug. 7 quarterly filing. CryptoSlate reports the sales generated $1.172 million of proceeds, with a $114,000 net realized loss. The company also disclosed that the sales were reported in the filing rather than occurring on the filing date.
TaoWeave’s disclosed strategy is to accumulate TAO as its long-term plan, but its treasury flows moved the other way in the first half of 2026. As of June 30, it held 23,335.18 TAO valued at $4.709 million, representing about 69.5% of total assets of $6.776 million, with all TAO staked through custodians BitGo and Kraken.
The company said it did not hedge its TAO exposure and held no other digital assets. It reported earning 728.97 TAO and generating $191,000 of revenue during the first half, had $735,000 in cash, and used $1.189 million in net operating cash during the period, while stating it expects to sell TAO from time to time as operating needs require because it has no committed credit facility or other liquidity source independent of its digital assets.