Digital Currency Group (DCG) has broadened the leadership team of its decentralized AI spin-off, Yuma, by appointing TradeBlock co-founders Greg and Jeff Schvey to senior executive positions. Greg Schvey will be the chief operating officer (COO), and Jeff Schvey has been appointed as the chief technology officer (CTO).
Yuma, a firm that commenced operations in November 2024, is a validator, miner, and subnet provider for the Bittensor network, a decentralized platform designed to facilitate collaborative machine learning and artificial intelligence applications. In the network, contributors are rewarded with TAO tokens for providing computational power and model training resources.
On X, COO Greg Schvey, in a statement, referred to himself as a “company outsider” when he joined Yuma, emphasizing his intention to bring in new ideas from his experience in infrastructure projects that are of a critical nature. In 2024, after Axoni, a blockchain technology company in which Schvey was the CEO, had its post-trade business acquired by the London Stock Exchange Group, Schvey left Axoni.
The two brothers, Schvey, have known the DCG management since TradeBlock’s data and index business, which was sold to DCG-owned CoinDesk in 2021, was their main focus. This business unit was subsequently spun off and closed due to the market downturn in 2023.
Yuma declared that it is validating in 120+ subnets and additionally, it has been mining in a few subnets of the Bittensor ecosystem. The company has enabled developers and entrepreneurs by providing them with the capital they need to test new AI application ideas, as revealed by the company, they have funded 15 subnet operators to this end.
In the initial months of this year, Yuma was able to onboard eight institutional validator partners, such as BitGo, Copper, and Crypto.com, thereby enhancing its stronghold. The company also plans to branch out into the field of asset management services.
After its Dynamic TAO upgrade in February 2025, which introduced subnet-specific “alpha” tokens for application developers as a means of support, Bittensor has been on the radar of many. The upgrade has been the main reason for increasing demand for both retail and institutional players who engage with the networ
