Covenant AI leaves Bittensor ecosystem

AI law firm Covenant AI has announced its departure from the Bittensor (TAO) ecosystem. According to Unfolded, Covenant AI cited excessive control by Bittensor co-founder Jacob Steeves and unilateral policy changes as the reasons for its exit. The firm characterized Bittensor's governance system as a facade of decentralization. Previously, Covenant AI had conducted decentralized large language model (LLM) pre-training through a major subnet. According to CoinMarketCap, TAO is trading at $286.8, down 11.27% from the previous day.