$TAO Has been crashed again, internal core subnet defected, speechless!

Covenant AI — Bittensor's most core subnet, the flagship engine successfully training a 72B large model, pushed TAO up nearly 90% in March.

However, today Covenant AI founder Sam Dare suddenly announced his departure, directly pointing out serious centralization issues in Bittensor governance:
The project team unilaterally paused subnet emissions
Deprived subnet moderation rights
Infrastructure changes made without sufficient consultation
Superficial multi-signature governance, actual control by a few

More directly, they reportedly liquidated about 37k TAO tokens, worth over $10 million.

TAO's short-term maximum drop exceeded 27%, market cap evaporated nearly $900 million, derivatives market long positions liquidated over $9 million.

Previously, Q1 revenue of $43 million and the positive news of Grayscale applying for an ETF were all wiped out overnight.

Short-term bearish sentiment is strong, currently support: around 250; DeAI reveals fatal flaws again, technology is strong, governance is weak, trust is gone in an instant.

#TAO