{"id":54902,"date":"2026-02-17T16:07:43","date_gmt":"2026-02-17T16:07:43","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=54902"},"modified":"2026-02-17T16:07:43","modified_gmt":"2026-02-17T16:07:43","slug":"loeb-smith-attorneys-advised-xtao-inc-on-its-reverse-merger-and-debut-on-canadas-tsx-venture-exchange","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/loeb-smith-attorneys-advised-xtao-inc-on-its-reverse-merger-and-debut-on-canadas-tsx-venture-exchange\/","title":{"rendered":"Loeb Smith Attorneys advised xTAO Inc. on its Reverse Merger and debut on Canada\u2019s TSX Venture Exchange"},"content":{"rendered":"

Cayman Islands (29 July 2025)\u00a0\u2013 Loeb Smith Attorneys, one of the leading offshore corporate law firms, acted as Cayman legal counsel to xTAO Inc.<\/strong><\/p>\n

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(\u201cxTAO<\/strong>\u201d) on its reverse merger and successful listing of its common share on Canada\u2019s TSX Venture (TSXV) Exchange. Xtao\u2019s common shares launched on TSXV at the market open on 23 July 2025, under the ticker symbol \u201cXTAO.U\u201d.<\/p>\n

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xTAO is a technology company focused exclusively on growing Bittensor and its decentralized AI ecosystem. Bittensor is a decentralized machine learning protocol that transforms machine intelligence into a tradable commodity by using its native token (TAO) for various purposes within the network. At its core, Bittensor is a platform built around incentives. Users contribute intelligence by helping AI systems improve and then earn TAO tokens based on the usefulness of the data or computational resources contributed to the network.<\/p>\n

The listing coincides with xTAO\u2019s closing of a US$22.8 million financing of subscription receipts from an array of leading venture capital firms in the digital asset industry, including Animoca Brands, Arca, Arche Capital, Borderless Capital, DCG, FalconX, Hypersphere Ventures, Off the Chain Capital, Republic and Stratos. The company will use the funds to expand its validator operations and build real-world products on top of Bittensor\u2019s open network.<\/p>\n

xTAO\u2019s Founder, Karia Samaroo said \u201cThis listing marks an important milestone for xTAO in its commitment to advance the growth of decentralised AI. I really appreciated the clear advice, guidance and support of the Loeb Smith team throughout the entire process.\u201d<\/p>\n

The Loeb Smith team was led by Partner Gary Smith, and included team members Vivian Huang and Frost Wu.<\/p>\n

Partner Gary Smith commented: \u201cWe are proud to have advised xTAO in this significant milestone. Their successful listing not only underscores the potential of decentralized technologies but also highlights the growing confidence in the digital asset space. Our firm\u2019s extensive experience in navigating complex corporate transactions within the crypto market enables us to provide effective and strategic advice to innovative companies like xTAO. We look forward to seeing how xTAO will leverage this opportunity to innovate and contribute to the evolution of the Bittensor ecosystem.\u201d<\/p>\n<\/div>\n<\/div>\n

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About Loeb Smith Attorneys<\/h2>\n
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Loeb Smith Attorneys is one of the leading offshore corporate law firms considered one of the most active and knowledgeable firms for advising on offshore investment funds formation and launch of all asset classes including public securities, private equity, venture capital, real estate, and virtual assets. Other areas of strength and growth are advising on M&A, Finance, Corporate Restructurings, Capital Markets, Regulatory Compliance, Investments, Logistics, Shipping and Aviation.<\/p>\n

Considered a leading law firm in the Fintech and Blockchain Technology space, Loeb Smith also advises on token issuances, application for VASP licences for Web 3.0 businesses,\u00a0 etaverse infrastructure and other virtual asset service providers, and utilising Cayman and BVI structures to develop virtual asset platforms for DAOs. Loeb Smith\u2019s clients are investment managers, financial institutions, onshore counsels, and HNWIs who the firm advises on day-to-day legal issues and complex, strategic matters.<\/p>\n

Some of our firm\u2019s recent accolades are: rankings in IFLR1000, Legal 500; winning Best Law Firm \u2013 Fund Domicile at Hedgeweek US Emerging Manager Awards 2023 and 2024; winning Best Law Firm \u2013 Fund Domicile at Private Equity Wire US Emerging Manager Awards 2023 and 2024; winning Best Law Firm \u2013 Fund Domicile at Private Equity Wire US Awards 2023; recognised amongst Top 30 Asia\u2019s Fastest Growing Law Firms in 2023, 2024 by Asian Legal Business; ranked in The A-List: Top Offshore Lawyers by Asia Business Law Journal in 2022 and 2024; winning The Best Offshore Law Firm \u2013 Client Service at With Intelligence HFM Asia Services Awards 2024; ranked in ALB Hong Kong Firms to Watch 2024, 2025 lists.<\/p>\n<\/div>\n<\/div>\n","protected":false},"featured_media":0,"template":"","class_list":["post-54902","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/54902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=54902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}