Synaptogenix Appoints Crypto Expert to Lead Digital Asset Treasury Strategy Focused Exclusively on Top-Valued AI Token

Rhea-AI Summary

Synaptogenix (NASDAQ: SNPX) has announced a major strategic shift by launching a cryptocurrency treasury strategy focused exclusively on Bittensor's TAO token, the leading AI cryptocurrency by market cap. The company plans an initial $10 million TAO token acquisition, with a total target of $100 million. Crypto and AI expert James Altucher will lead the TAO-based revenue generation strategy, focusing on staking yield and token appreciation. The company has also secured $5.5 million in financing through Series D convertible preferred stock at $3.00 per share. Synaptogenix plans to change its name and ticker symbol to align with this new digital asset strategy. The initial TAO acquisition, representing over twice the company's current market value, will be funded through existing cash reserves.

Positive

• Significant strategic investment with initial $10 million TAO acquisition and $100 million total target
• Appointment of recognized crypto/AI expert James Altucher to lead strategy
• Secured $5.5 million in new financing through Series D preferred stock
• Company has significant cash reserves and well-capitalized balance sheet to fund initiative
• TAO token has fixed supply of 21 million tokens with increasing global demand

Negative

• Major shift from core business model introduces significant cryptocurrency market risks
• High-risk concentration in single cryptocurrency asset (TAO)
• Potential shareholder dilution from $5.5M convertible preferred stock offering
• Substantial investment relative to company size (over 2x current market cap)

Singular focus on Bittensor (TAO), the leading AI token by
adoption and market capitalization

James Altucher to lead TAO token strategy initiatives

Planned initial acquisition of $10 million in TAO equates to over two times the Company's 
current market capitalization; total acquisition target of $100 million

NEW YORK, June 9, 2025 /PRNewswire/ -- Synaptogenix, Inc. (Nasdaq: SNPX) ("Synaptogenix" or the "Company") today announced its launch of a differentiated cryptocurrency treasury strategy focused exclusively on the artificial intelligence (AI) crypto token "TAO," which is currently the top AI token by market capitalization and adoption. Well-known cryptocurrency and AI expert James Altucher will lead a TAO-based revenue generation strategy targeting staking yield and token appreciation.

Synaptogenix plans to acquire $10 million in TAO tokens initially, which amounts to over two times the Company's current market valuation. The Company's strategy is targeted to acquire $100 million of TAO tokens. The initial acquisition will be funded by the Company's significant cash reserves and well-capitalized balance sheet.

Joshua Silverman, Chairman of the Board, stated, "Near the end of 2024, our Board of Directors began exploring value creation opportunities to best utilize our significant cash reserves. We have witnessed an increasing number of public and private companies allocate digital assets to their corporate treasuries successfully or use them as part of their business strategies. We believe the leading AI token, TAO, offers the best outlook for growth and adoption as well as the best opportunity to create and preserve value for our stockholders. We are fortunate to bring on James Altucher, a world-class authority on both AI and crypto, to drive revenue generation and TAO staking strategies in pursuit of significantly increasing shareholder value."

"Based on our initial review, we believe the fixed market supply of 21 million TAO tokens alongside rapidly increasing global demand for AI development and adaptation makes TAO a compelling cryptocurrency," Silverman concluded.

Mr. Altucher is an accomplished entrepreneur, venture capitalist, writer and author with decades of expertise in emerging technologies including crypto and AI. As an early proponent of Bitcoin, he created the first "Bitcoin-only" store. He has also published numerous academic papers on AI and delivered keynotes at prestigious AI conferences.

"The AI industry is expected to grow tenfold between now and 2030, and some percentage of every dollar allocated to AI is expected to go towards decentralized AI where TAO is the clear leader. I am excited to be a part of what I believe is the only pure play public company focused on the convergence between crypto and AI as both industries continue to grow exponentially," said Altucher.

TAO is the native token created for Bittensor, a decentralized blockchain network for machine learning and AI. Bittensor's open access and ownership environment for creating, training, and evaluating AI models is designed to democratize AI development. The network incentivizes participants, including miners and validators, based on the value of their contributions, as measured by information theory—such as the novelty, relevance, or efficiency of shared AI knowledge. Rewards are distributed in the form of TAO tokens.

Synaptogenix intends to change its name and ticker symbol in accordance with its digital asset treasury strategy based on the AI token TAO. A new corporate website is also under development. More information will be available within the next several months.

Synaptogenix announced that it has entered into securities purchase agreements for a $5.5 million financing, including James Altucher, involving the sale of 5,500 shares of its newly issued Series D convertible preferred stock ("preferred stock"), with a stated value of $1,000 per share, convertible into shares of its common stock in a private placement and five year common stock purchase warrants, which is expected to close on or about June 10, 2025 subject to the satisfaction of customary closing conditions.

The shares of Series D preferred stock have a conversion price of $3.00 per share. The warrants have an exercise price of $3.00 per common share. 

The financing, consulting agreement with Mr. Altucher and certain management changes are more fully disclosed in the current report on Form 8-K filed with the SEC this morning.

Forward-Looking Statements

Any statements contained in this press release by Synaptogenix that do not describe historical facts may constitute forward-looking statements. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. These and other factors are identified and described in more detail in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to update these forward-looking statements.

Contact
800-811-5591
ir@synaptogen.com

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SOURCE Synaptogenix, Inc.

FAQ

What is Synaptogenix's (SNPX) new cryptocurrency strategy?

Synaptogenix is launching a cryptocurrency treasury strategy focused exclusively on acquiring Bittensor's TAO token, with an initial $10 million investment and total target of $100 million.

Who is James Altucher and what role will he play at SNPX?

James Altucher is a crypto and AI expert who will lead Synaptogenix's TAO-based revenue generation strategy, focusing on staking yield and token appreciation.

How much is SNPX's initial investment in TAO tokens?

Synaptogenix plans to initially acquire $10 million in TAO tokens, which represents over two times the company's current market valuation.

How is Synaptogenix funding its TAO token acquisition?

The initial acquisition will be funded through the company's existing cash reserves and a new $5.5 million financing through Series D convertible preferred stock.

What is the conversion price for SNPX's new Series D preferred stock?

The Series D preferred stock has a conversion price of $3.00 per share, with accompanying five-year warrants at the same exercise price.