Bittensor lost nearly $900 million in market value after Covenant AI said it was leaving the network. CryptoSlate data showed TAO fell 27% from $338 to $285 in about two hours before recovering to $294. CoinGlass data showed $11 million in long liquidations. The split brought a governance dispute between Covenant AI founder Sam Dare and Bittensor co-founder Jacob Steeves into public view.
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Bittensor Loses $900M as Covenant AI Exits and TAO Falls 27%