@LukitaTao@SiamKidd subnets have turned into a shilling chamber with those in the know hyping newcomers for exit liquidity. Sad to see. Exited for this very reason.
A $10 MILLION DUMP JUST TESTED WHETHER BITTENSOR IS REAL OR NOT. THE NETWORK GAVE ITS ANSWER.
Covenant AI walked. The biggest builder team in the ecosystem. The team behind the 72B parameter model that Jensen Huang praised on the All In podcast.
They accused leadership of centralization. Said one person controls too much. Said changes were made without process.
37,000 TAO sold. Price crashed 25%. $650 million wiped.
And then something happened that most people missed because they were too busy panic selling.
The network kept running. Every subnet stayed active. 100+ subnets still live. AI training continued. New models started. Builders kept building.
The team that built Covenant 72B left. But the model was trained in a decentralized way across 70+ independent contributors using home GPUs. The milestone belongs to the network, not the team.
Grayscale didn't sell. They increased exposure. ETF conversations didn't stop. Jacob Steves proposed locked stake for governance transparency within days.
This was BitTensor's first public crisis. The kind that either kills a project or proves it can't be killed.
The network answered. It's still standing.
$256 right now. If it reclaims $280, this was the healthiest shakeout in the project's history. If it doesn't, the bear case deepens.
Either way, you now know something you didn't know last week. BitTensor can take a direct hit from its biggest contributor leaving and keep running without interruption.
That's not nothing. That might be everything.
$TAO is literally reskinned Polkadot. They even copied the fucking animated logo on CoinMarketCap. Same playbook across the board. Do NOT buy this vaporware and be exit liquidity. Get the fuck out while you can, there is no single commercial use-case.
Open your fucking eyes.