Covenant AI exits Bittensor over ‘decentralization theatre,’ TAO drops 18%
Burns Brief
Covenant AI said it was leaving Bittensor due to its overreaching control on subnets and their large-scale TAO token sales, but Bittensor’s founder denied all allegations The news has rattled market participants, with bears looking to push prices lower while bulls attempt to defend key support levels. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
Covenant AI said it was leaving Bittensor due to its overreaching control on subnets and their large-scale TAO token sales, but Bittensor’s founder denied all allegations.
Key Takeaways
- Covenant AI said it was leaving Bittensor due to its overreaching control on subnets and their large-scale TAO token sales, but Bittensor’s founder denied all allegations