BREAKING: Bittensor $TAO just got wrecked down 27% in the last 12 hours, erasing nearly $900 million in market cap.

Over $9 million in long positions wiped out in the chaos.

The trigger? Covenant AI, one of the biggest projects in the ecosystem, has exited Bittensor reportedly dumping 37,000 TAO worth over $10 million.

It gets worse.

The team didn’t hold back, accusing Bittensor’s founder of running a “decentralized theatre” while secretly controlling key parts of the protocol.

This isn’t just a sell-off it’s a full-blown confidence shock.