On April 10, Covenant AI announced its exit from the Bittensor ecosystem, causing TAO’s price to drop 15%. In a statement, founder Sam Dare said the company could no longer continue development due to network governance mechanisms conflicting with its commitment to decentralization, and accused co-founder Jacob Steeves of attempting to regain control of the subnet.
Covenant AI Exits Bittensor, TAO Drops 15%
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Summary
AI and crypto news broke on April 10 when Covenant AI announced its exit from the Bittensor network, causing TAO to drop 15%. Founder Sam Dare cited governance issues conflicting with decentralization principles. Dare also accused co-founder Jacob Steeves of attempting to reclaim control of the subnet. The move occurs amid ongoing debates over network upgrade procedures and developer influence.
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