🚨 Sharp plunge on Bittensor: $TAO drops 27% in 12 hours, erasing nearly $900 million in market capitalization. Also, $9 million in long positions were liquidated. The decline follows a shocking announcement from Covenant AI, one of the network’s flagship projects: the team is leaving Bittensor and reportedly sold 37,000 $TAO (over $10 million). They accuse the protocol’s founder of engaging in a “theater of decentralization” while maintaining significant control over multiple aspects of the network.
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