General Tensor has acquired Backprop Finance from Tensorplex Labs. The transaction gives General Tensor ownership over one of Bittensor’s highest-volume decentralized trading platforms.
The acquisition follows General Tensor’s $5 million raise across its pre-seed and seed rounds. Digital Currency Group (DCG) participated in the pre-seed and made a follow-on investment in the strategic round. The most recent round had a follow-on from their lead investor Lvna Capital and added Good Morning Holdings, led by Lok Lee and backed by Goldman Sachs to General Tensor’s investor base.
“We evaluated a number of opportunities in Bittensor before backing General Tensor. What separated them was execution discipline they don’t just hold a position in this network, they built a valuable infrastructure platform. General Tensor is doing what the best infrastructure companies do, they’re building, consolidating and integrating key components of the ecosystem.” said Lok Lee, Managing Partner of Good Morning Holdings.
Backprop Finance operates as an all-in-one trading terminal for Dynamic TAO (dTAO) subnet alpha tokens. The platform includes a dTAO (alpha) swap terminal, a subnet screener with consolidated analytics, a gamified leaderboard for traders, tracking subnet owner sell activity through Realized PNL data, portfolio visualization across tokens and validators, whale transaction alerts, and wallet-level monitoring.
Backprop’s largest user base is concentrated in Asian markets, a testament to the trader-first platform Tensorplex built and the quality of execution that earned organic adoption in one of the world’s most discerning trading communities. As trading activity on Bittensor grows, Backprop will continue to serve as the primary destination for accessing and trading the network’s subnets.
Tensorplex Labs, the original builders and former owners, originally built Backprop as part of a broader financial infrastructure effort for Bittensor. Under Tensorplex, the platform became the primary trading destination for dTAO tokens and earned wide community adoption.
“Our goal with Backprop was always to provide the Bittensor community with the best user experience to trade digital supercommodities. It was vital to find a steward who shares the same vision as us.” said Darwin Liew, Co-Founder of Tensorplex Labs. “General Tensor’s track record, particularly their stewardship of the General Tensor (RoundTable21) validator, underscores their deep commitment to the Bittensor ecosystem. This transition ensures Backprop remains a neutral, high-performance utility that the entire community can rely on.”
“Tensorplex built the strongest trading product in Bittensor. This acquisition represents a critical puzzle piece in our portfolio of assets as a driving force for network utility and adoption in the Asian market.” said Mike Grantis, CEO at General Tensor. “The backing from Lvna, DCG, Goodmorning Holdings, and our earlier rounds goes directly into that buildout.”
The handover was structured for zero disruption — all features, user data, and portfolio tracking carry forward with no action required from current users. General Tensor is committing a full development team to the platform, focused on improving the core experience and shipping new capabilities unique to Backprop.Finance.
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