Bittensor, a network of decentralized AI projects, saw the price of its popular cryptocurrency, TAO, tumble in digital-asset markets after a top contributor departed.
According to reports in Unchained and elsewhere, Covenant AI founder Sam Dare, who managed what he described as "the largest decentralized LLM pre-training run in history," apparently left the project and dumped his subnet tokens.
In a post on X, Dare wrote: "Bittensor operates a triumvirate structure, three individuals who manage the multisig for network upgrades, presented to the community as distributed governance. It is not. It is decentralization theatre."
In a response to the post, Jacob Steeves, who goes by Const, wrote: "I don't have any privilege beyond what normal TAO holders have."