PANews reported on June 17 that according to investing.com, British listed company TAO Alpha PLC announced that it had obtained a £5 million fixed-price convertible loan and established a new financial policy focused on Bitcoin. The company established a subsidiary Tao Alpha PTE. LTD in Singapore to manage fund assets. The new policy allows up to two-thirds of cash reserves to be allocated to Bitcoin and stablecoins. The funds will be used to expand the Bittensor decentralized open source network and AI cryptocurrency development, including increasing the recruitment of technical personnel.