TaoWeave promised to hoard TAO forever, but paying the bills just forced another crypto treasury sell-off of 3,959 TAO

TaoWeave, formerly known as Oblong, says its long-term strategy is to accumulate Bittensor's TAO token. Its latest filing shows the treasury flow moving the other way during the first half of 2026.

The company sold 3,959.23 TAO to fund operating expenses and manage liquidity. The sales raised $1.172 million and produced a $114,000 net realized loss. They occurred during the six months ended June 30 and were newly reported in the company's Aug. 7 quarterly filing, rather than taking place on the filing date.

The disclosure marks a turn from the plan CryptoSlate reported in June 2025, when predecessor Oblong intended to direct most of a $7.5 million private placement toward acquiring TAO and supporting Bittensor.

TaoWeave held 23,335.18 TAO worth $4.709 million at June 30, about 69.5% of its $6.776 million in total assets. All of the holdings were staked through custodians BitGo and Kraken. The company did not hedge its TAO exposure and held no other digital assets, leaving its balance sheet concentrated in one volatile token.

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