DCG Subsidiary Yuma Appoints Crypto Veterans to Lead Decentralized AI Expansion on Bittensor

Executive Summary

Yuma, a Digital Currency Group (DCG) subsidiary focused on decentralized artificial intelligence (AI), has appointed veteran crypto founders Greg Schvey and Jeff Schvey as Chief Operating Officer and Chief Technology Officer, respectively, to drive its expansion on the Bittensor network. This strategic move underscores increasing institutional confidence and potential growth within the decentralized AI sector.

The Event in Detail

Digital Currency Group launched Yuma on November 20, 2024, establishing it as a dedicated entity to support and advance development on Bittensor, a decentralized, open network for AI. DCG Founder and CEO Barry Silbert also serves as Yuma's CEO, aligning the initiative with DCG's broader strategy at the intersection of crypto and AI. Yuma provides capital, infrastructure, and technical resources to startups and enterprises building on Bittensor, drawing its name from the network's Yuma Consensus (YC) mechanism. The appointment of Greg Schvey and Jeff Schvey, co-founders of institutional crypto trading platform TradeBlock and distributed ledger technology firm Axoni, brings extensive experience in institutional-grade crypto and fintech infrastructure. Their previous ventures were acquired by DCG and the London Stock Exchange Group (LSEG), respectively, highlighting their track record in building and scaling advanced financial technologies.

Business Strategy and Market Positioning

Yuma's strategy is centered on accelerating the Bittensor ecosystem by acting as a comprehensive incubator and infrastructure provider. The company aims to scale operations across Bittensor's validator, mining, and subnet accelerator initiatives, alongside plans to launch Yuma Asset Management to offer investors exposure to the ecosystem. Yuma has already facilitated the onboarding of eight institutional validator partners, including major players like BitGo, Copper, and Crypto.com, and supported eight subnets on the network.

The "State of Bittensor" report from Yuma, covering the first half of 2025, indicates significant expansion. The report notes 128 subnets are now live, addressing diverse use cases from fraud detection to on-device AI. Key metrics for Q2 2025 show a 50% subnet growth, 16% miner growth, and a 28% increase in non-zero wallets. Staked TAO, Bittensor's native token, rose 21.5%, with the token's market capitalization approaching $4 billion by July and subnet tokens collectively nearing $800 million.

This strategic approach echoes the playbook of entities like MicroStrategy, which has aggressively accumulated Bitcoin. For instance, TAO Synergies Inc. (TAOX) acquired 42,111 TAO tokens, valued at $10 million, to stake, becoming the largest public TAO holder and mirroring a similar institutional asset accumulation strategy. Public companies like Oblong (OBLG) also acquired $7.5 million in TAO tokens in June 2025. Barry Silbert articulated this vision, stating, "Just like the early days of Bitcoin... we're moving from the digital ownership of assets to the decentralized ownership of intelligence."

Market Implications and Broader Context

The entry of seasoned founders and robust institutional engagement through Yuma signifies a maturation of the decentralized AI landscape. The partnership with BitGo, enabling secure and compliant institutional staking of TAO, addresses a critical need for large investors seeking exposure to this emerging sector. Gbenga Omosuyi, Head of Strategic Partnerships at BitGo, highlighted the growing institutional demand for decentralized AI exposure, while Evan Malanga, Yuma's Chief Revenue Officer, underscored the focus on security and transparency for institutional clients.

Bittensor's dTAO upgrade in February 2025, which transitioned to market-driven subnet allocation via Alpha Tokens, further enhances its appeal to institutional investors by aligning with decentralized finance (DeFi) principles. This model, which distributes value based on market demand, contrasts with centralized AI models and offers an alternative for institutions seeking AI innovation without over-centralization risks. The accelerating growth in subnets, wallets, and institutional access, as detailed in Yuma's report, suggests that decentralized intelligence is evolving from a niche experiment into functioning infrastructure. The overarching implication is a potential shift in the AI paradigm, moving the transformative power of AI and machine learning away from centralized entities towards open and accessible resources, fostering a more equitable digital ecosystem.