TAO Synergies, a crypto vault company focused on the Bittensor ecosystem, announced it has signed a securities purchase agreement to raise $11 million in a private placement. The agreement involves the issuance of 11,000 shares of new Series E convertible preferred stock, with a par value of $1,000 per share, convertible into the company's common stock at $8 per share.

Participants in this round include existing investor and digital asset strategic advisor James Altucher and new investor DCG, and the closing is expected to be completed around October 15, 2025. Altucher stated that this financing will further support TAO Synergies' continued growth in TAO token holdings and expand revenue opportunities within the Bittensor ecosystem.

TAO Synergies, formerly the biotech company Synaptogenix, changed its name in June this year and shifted to a Bittensor-centric strategy. It is currently the largest public holder of TAO in the ecosystem, holding 42,111 TAO tokens, valued at over $18.2 million. (The Block)