Covenant AI announced its departure from the decentralized AI network Bittensor, accusing the platform of centralized governance controlled by founder Jacob Steeves. Covenant AI claims this control undermines the network's decentralization, calling it "decentralization theatre." Steeves denied these allegations, stating he holds no special privileges and that token sales and governance actions were normal. The dispute has impacted Bittensor's TAO token, which dropped 18% amid increased sell volume before Covenant AI's exit announcement. This conflict highlights challenges in achieving genuine decentralization in blockchain projects.
Bittensor (TAO) dropped below the $200 support level, hitting a monthly low of $193 due to increased futures outflows and declining open interest, indicating reduced exposure by derivatives traders. Despite the bearish momentum, spot market data show...
NEAR Protocol's price rose above $2, supported by renewed interest in AI-related cryptocurrencies and an 83% surge in trading volume. The token is breaking out of a falling wedge pattern, with a confirmed breakout above $2.03 potentially driving pric...
