TaoWeave promised to hoard TAO forever, but paying the bills just forced another crypto treasury sell-off of 3,959 TAO
TaoWeave, formerly Oblong, still says its long-term strategy is to accumulate TAO, but its first-half 2026 filing shows it sold 3,959.23 TAO to cover operating costs and liquidity needs. The sales brought in $1.172 million and resulted in a $114,000 realized loss. During the same period, it also bought 1,900 TAO and earned 728.97 TAO from staking. At June 30, TaoWeave held 23,335.18 TAO worth $4.709 million, equal to about 69.5% of its $6.776 million in total assets. All holdings were staked through BitGo and Kraken, with no hedges and no other digital assets, leaving the balance sheet heavily concentrated in TAO. Cash stood at $735,000, while operating cash use totaled $1.189 million in the first half. The company said it may sell more TAO as needed and has no separate liquidity facility. Management said existing cash plus TAO should support operations for at least 12 months, but long-term capital needs remain.
