Good morning, Asia. This is what news is doing in the markets:
Welcome to Asia Morning Briefing, a daily summary of the main stories during the US hours and an overview of the movements and market analysis. To obtain a detailed description of the US markets, see Cryptokook from Coindesk America.
Robinhood received all kinds of attention earlier this year when he claimed to offer his retail users exposure to OpenII growth history through tokenized actions backed by a special purpose vehicle.
Openai’s lawyer warned that these tokens do not constitute equity and said that everything is not authorized, which could mean that it could be a risky investment for Tokens holders.
This has a larger issue of access to investors. The most popular AI companies such as Openai and Anthrope, remain firmly private, their growth captured by risk capital funds and strategic sponsors such as Microsoft or Google.
Institutional investors get everything, and retail investors are blocked, forced to buy in large technological actions such as NVIDIA, or expect structured products such as SPVS to offer something similar to exposure.
Enter bittensor.
In February 2024, The decentralized the network launched its dynamic Tao (DTAO) Update, which aims to turn into risky capital, where everyone has the opportunity to access performance.
Instead of passively validating the root subnet, Tao holders are now assigned directly to the subnets, each with their own start of chain, and receive tokens “alpha” in return. These tokens reflect the performance and demand of the subnet, and the reference decisions determine which projects gain a part of the network emissions. It is a simple incubator driven by the market where the value is rewarded only if created.
“The subnets form an ecosystem within an ecosystem, where performance and utility are rewarded, stacking opportunities both through reference returns and the appreciation of Token Alfa,” explained ‘Zerobit’, CEO of Talismán, a wallet that is part of the DTAO Ecosystem, during a recent panel on AI in Taiwan Blockchain Week.
Two subnet illustrate why this matters. Bridges (SN62) It is a coding agent that has already surpassed Claude 4 of Anthrope in Swe-Bench, a standard test of the industry code generation.
In just weeks, decentralized miners competing for emissions pushed the precision of bridges above 80%, exceeding what a very financed centralized technology company delivered with hundreds of millions in capital.
Crucially, he achieved this while spent only tens of thousands of dollars to calculate, taking advantage of the shared bittensor subnets ecosystem and demonstrating that the thesis of the decentralized AI has water.
Another of those is the ramp (SN64)The trunk network without server without the network server. Think about it as a decentralized AWS for AI workloads: Process billions of tokens daily, second -year scales models and underline centralized suppliers for up to 85% in cost.
Chute also houses Depseek’s large language models in Huggingface, which makes it the largest decentralized supplier of open source inference to scale.
For retail investors, it could provide a convincing alternative. SPVS offers synthetic claims on private companies, plagued by possible legal and liquidity risk. The subnet reference, on the contrary, has no permission, based on performance, with results that can be verified in the chain.
“Where most cryptographic projects block the growth behind the internal agreements, Bittensor’s DTAO opens access to investment from day one, allowing them to mount the growth of the value of the token alpha,” said Brad Fuller de Bittensor.AI, a subnet reference reference data portal, during the same panel in the Blockchain de Taiwan week. “It is an entrance ramp for anyone to join the property class and share the growth of AI.”
The winners attract the stake, cultivate emissions and worsen in stronger projects. With Anthrope and Openai still locked in public markets, Bittensor could be one of the few ways for everyday investors to mount the advantage of AI without waiting for the blessing of Wall Street.
While Tao may not have the similar pull such as the mechanical technological actions of Big Tech, the subnet reference is becoming easier through the new wallets and with the heavyweights such as Barry Silbert of DCG surround the ecosystem, which has already called it a protocol as important as Bitcoin as it could provide a potential opportunity for those who could follow the rabbit hole of rabbit of the sector Ai.
Market movement
BTC: Bitcoin barely moved after the fed -point cuts of the Fed, with $ 116,851 as the merchants weighs the framed risk management of Powell against a cautious plot of points.
ETH: Ethereum saw a stronger tracking, rising to $ 4,603.60 with a weekly gain of 6%, which reflects the appetite renewed by the names of greater beta amid the expectations of consecutive cuts in October and December.
Gold: Deutsche Bank has raised its gold forecast from 2026 to $ 4,000/OZ, citing a strong demand from the Central Bank, a weaker dollar and political uncertainty on the independence of the Fed, after the 41% increase of Gold in the year more than $ 3,700.
S&P 500: The S&P 500 fell 0.1% to 6,600.35 after the expected rate cut of the Fed, since Powell said it was not the beginning of an extended flexibility cycle.
In another part of crypto
- The XSTOCKS issuer chose Switzerland to avoid shares of tesla tokenized in white: CEO (Decrypt)
- Crypto Exchange Kraken sees a handful of departure senior executives: Fuente (Coindesk)
- DEFI Development acquires almost $ 15 million in sun, pushing Solana Holdings above 2 million tokens (the block)
