Covenant AI Calls Bittensor 'Decentralization Theatre,' Exits Network as TAO Falls 15%

Covenant AI Calls Bittensor 'Decentralization Theatre,' Exits Network as TAO Falls 15%

Covenant AI, the team behind the Covenant-72B model that drove TAO's 90% March rally, has exited Bittensor — accusing founder Jacob Steeves of unilateral control over a network marketed as decentralized.

Covenant AI Leaves Bittensor Amid Decentralization Concerns, TAO Drops 18% – #CryptoUpdatesGNIT

Bittensor subnet developer Covenant AI said Friday that it is leaving the decentralized artificial intelligence network, accusing Bittensor of operating under a concentrated governance structure that undermines its decentralization claims. In a Friday post on X, Covenant AI founder Sam Dare said the team could no longer build on or raise for Bittensor because its governance was not meaningfully distributed. “It is decentralization theatre,” Dare…

Bittensor Crashes 20% After Covenant AI Exit: Will TAO Continue Tanking?

Key Insights TAO crashes 20% as Covenant AI exits over centralization claims. Centralization claims pushed TAO from $337 to $262 in 24 hours, a big hit for decentralized AI. Covenant’s statement said revenue, governance, and infrastructure changes were implemented top-down and controlled by a few actors, rather than being decentralized. TAO subnets’ price performances continue to tank too amid fears the weakness could extend to the broader AI m…

Bittensor (TAO) Crashes 20% Following Covenant AI’s Exit, ‘Decentralization Theater’ Claims

Subnet developer Covenant AI announced its exit from Bittensor due to decentralization concerns and alleged punitive actions by the AI-focused network ecosystem co-founder, Jacob Steeves. Covenant AI Slams Bittensor’s Decentralization On Friday, Covenant AI’s founder, Sam Dare, released a statement announcing the subnet developer’s departure from decentralized artificial intelligence network Bittensor, citing governance disputes and decentraliza…

Bittensor Token Plummets After Covenant AI Departure Sparks New Governance Fears

This week, Bittensor ecosystem got rocky as one of its central figures decided to bail. Covenant AI has become the first system to officially leave the network, citing centralization concerns. LATEST: BITTENSOR DROPS 16% AS COVENANT AI EXITS THE NETWORK OVER CENTRALIZATION CONCERNS Covenant AI (@covenant_ai) has exited Bittensor citing concerns over centralized control. The team said governance is not truly decentralized in practice. It alleged…

Bittensor's TAO risks 45% dip amid 'decentralization theater' accusation

TAO drops 30% from its weekly high, confirming fractal setups that projected deeper downside targets for the token in the past. Bittensor’s TAO token may drop by up to 45% in the coming weeks as Covenant AI, one of its top subnet operators, publicly announced its full exit from the ecosystem. Key takeaways: Covenant AI accused Bittensor of being centralized, leading to a 30% drop in TAO prices. Read more Source: Coin Telegraph The post Bittensor…