TaoWeave sold 3,959 TAO to fund operating expenses and manage liquidity. The sale raised $1.172 million but generated a net realized loss of $114,000. As of June 30, the 23,335 TAO held represented 69.5% of the company’s total assets worth $6.776 million, all staked through BitGo and Kraken. TaoWeave has no committed credit facility or other arrangement providing liquidity independent of its digital assets. If the first-half cash-use pace persisted for 12 months with TAO fixed at $198, the company would need to sell approximately 8,298 additional TAO to cover its liquidity gap.
Source: Read the original article
