$TAO 𝙒𝙝𝙮 𝘽𝙞𝙩𝙩𝙚𝙣𝙨𝙤𝙧 𝘿𝙪𝙢𝙥𝙞𝙣𝙜 𝙏𝙤𝙙𝙖𝙮?

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Bittensor’s TAO token fell sharply on April 10, 2026, dropping Around 15% to trade between $280 and $290 after failing at $300 resistance.

The main trigger is Covenant AI’s abrupt exit from Subnet 3 (Templar). On April 9, founder Sam Dare publicly accused core contributor Jacob Steeves (“Const”) of centralized control. Key grievances include suspending subnet emissions, overriding community decisions, depreciating infrastructure unilaterally, and applying economic pressure through token sales.

Covenant AI called Bittensor’s governance a “façade” and announced it would pursue decentralized AI independently. The high-profile departure, following their 72B model milestone, sparked immediate FUD and sell pressure across crypto communities.
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