WonderFi co-founder Karia Samaroo to list xTAO on TSXV via merger, aiming to raise $10M USD and pioneer decentralized AI on Bittensor blockchain.
WonderFi Co-Founder’s New Venture xTAO Set to List on TSXV
Karia Samaroo, co-founder of Canadian crypto trading giant WonderFi, has announced the launch of his latest venture: xTAO, a startup designed to capitalize on the rapidly emerging decentralized AI ecosystem. The company is preparing to go public on the TSX Venture Exchange (TSXV) through a reverse merger with Vancouver-based Adrianna Ventures.
This bold move will make xTAO the first publicly traded company offering access to the Bittensor AI network, a blockchain-based marketplace for AI models and compute resources.
Bittensor and TAO: The ‘Bitcoin of AI’?
xTAO is built on Bittensor, a decentralized protocol that enables the buying, selling, and rewarding of artificial intelligence contributions using TAO tokens. Described by Samaroo as the “Bitcoin of AI,” the platform supports a permissionless network where developers exchange machine learning capabilities, computational power, and data.
“The longer I’ve spent building on Bittensor, the more conviction I have that TAO will become one of the most important assets in our generation,” said Samaroo.
xTAO’s listing could provide investors with a new gateway into decentralized AI and Web3 infrastructure—at a time when demand for alternative AI ecosystems is booming.
$10 Million USD Raise Through Private Placement
To support its growth and listing ambitions, xTAO plans to raise $10 million USD (approximately $13.8 million CAD) through a non-brokered private placement via subscription receipts. The capital raise is being supported by a roster of well-known crypto venture firms, including:
- Arca
- Cadenza Capital
- Contango Digital Assets
- Digital Currency Group
- EV3 Ventures
- Off the Chain Capital
- Nickel5 Investments
- The Venture Department
This investor interest highlights the strong market appetite for decentralized AI and blockchain-native infrastructure plays.
From WonderFi to Web3 Infrastructure
Samaroo’s journey through the world of crypto innovation began in 2021, when he co-founded WonderFi with Kartik Bajaj, Cong Ly, and Dean Sutton. WonderFi quickly rose to prominence, becoming the first Canadian-regulated crypto platform on the Toronto Stock Exchange by mid-2022.
However, the crypto market downturn posed significant challenges. As WonderFi navigated turbulent waters—acquiring rivals like Coinberry and undergoing leadership changes—Samaroo transitioned out of the CEO role, handing the reins to Dean Skurka in late 2022. Samaroo remained chairman of the board until December 2023.
Deepfake Detection and Dual Ventures
xTAO isn’t Samaroo’s only foray into Bittensor. In July 2024, he also co-founded BitMind, a startup focused on deepfake detection powered by the same decentralized infrastructure.
His latest ventures reflect a strategic pivot toward building solutions at the intersection of AI, blockchain, and public infrastructure—a space gaining momentum as traditional models face growing scrutiny.
Stay tuned to Maple News Wire for ongoing coverage of AI, crypto, and public listings in Canada’s innovation ecosystem.
