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Bittensor co-founder Jacob Robert Steeves responded to the Covenant AI incident, stating that he was "deeply shocked" by the events of the past few days and accused Covenant AI founder Samuel Dare of causing serious harm to the protocol and community, betraying the trust of investors and users. He apologized to users who suffered losses due to the incident.Steeves stated that the original intention of Bittensor was to combat greed and selfishness in human nature, promoting AI to be collectively owned by all participants through a permissionless mechanism. He emphasized that while this incident exposed vulnerabilities in the system, it would also encourage the protocol and community to further enhance their risk resilience.Regarding future directions, Steeves proposed advancing the "Locked Stake" mechanism, introducing a "time + stake" commitment dimension at the protocol layer to improve transparency and investor protection, thereby reducing similar risks. He noted that this plan was originally designed with the participation of Samuel Dare.Additionally, he mentioned that the development related to subnets 3, 39, and 81 would continue to be driven by the community, and the overall functionality and vision would not change. Steeves emphasized that Bittensor remains one of the most decentralized AI protocols currently and will continue to promote the development of open AI, with plans to move towards training larger-scale models. In the future, they will train a 1 trillion parameter model.

Bittensor co-founder Const (@const_reborn) responded on Twitter to recent allegations regarding Covenant AI. Const stated that he has no authority to pause emissions, and that the previous sale of a portion of alpha positions in three subnetworks was because these subnetworks were not operational and were in a high ratio of code destruction state. The impact of this transaction on emissions is consistent with the buying and selling behavior of ordinary TAO holders, and he does not enjoy any special privileges.Regarding management authority, Const clarified that it was Samuel himself who abandoned his Discord channel, and he did not remove his administrator role; he only temporarily restricted his ability to delete posts that honestly criticize and then restored it. Additionally, he emphasized that the scale of the token sell-off was less than 1% of his total investment in the team, and stated that exercising the rights to buy and sell tokens under the dTao system is fundamental to supporting the operation of the system.According to previous reports from ChainCatcher, the main subnetwork developer on Bittensor, Covenant AI, announced its withdrawal from Bittensor. Covenant AI founder Sam Dare stated that the reason Bittensor attracts builders, miners, validators, and investors into this ecosystem is because of its promise not to be controlled by any single entity. But this promise is a lie.

According to Theblock, Covenant AI, the main subnet developer on Bittensor, has announced its exit from Bittensor. Covenant AI founder Sam Dare stated that Bittensor attracted builders, miners, validators, and investors into this ecosystem because of its promise of not being controlled by any single entity. However, this promise is a lie.Dare listed Bittensor co-founder Jacob Steeves as a major reason for the departure. He claimed that Jacob has been exercising authority over the subnet to regain control of Covenant, as Covenant has grown too large to manage.It is reported that after Covenant's announcement, the price of Bittensor's TAO token plummeted significantly, dropping from $338 to $285 in a short period, a decrease of 15%.

Research institution 10x Research published on platform X, pointing out that Bittensor (TAO) is experiencing strong momentum driven by both AI narratives and ecological expansion. The current price of TAO has surpassed the 7-day and 30-day moving averages, with technical indicators showing dual bullish signals. In the past week, it has increased by 19.8%, and the staking scale of subnet has exceeded 620 million dollars, with the number of active subnets expanding to 128.On the news front, NVIDIA CEO Jensen Huang mentioned Bittensor in a well-known podcast, while Grayscale reiterated this week that the Bittensor Trust private placement subscription is now open to qualified investors, further strengthening institutional endorsement.

According to Binance spot data, the market has experienced significant fluctuations. DGB has dropped 12.17% in the last 24 hours, while RIF has risen 6.87% and reached a new high for today.In addition, ASTR, T, VANA, and ASTER have all shown a "high and then low" state, with declines of 6.65%, 7.57%, 6.49%, and 5.05% respectively. SAGA has reached a new low for the week, with a decline of 6.13%.At the same time, ENSO has slightly increased by 3.06% within 5 minutes.

According to Binance spot data, the market has experienced significant volatility. ENSO has dropped by 12.13% in the last 24 hours, while ASR reached a new high today, increasing by 6.35%.At the same time, ATA, AXS, CRV, FLUX, and STRK have all shown a "high and then low" or "new low today" status, with declines of 5.09%, 5.61%, 5.61%, 5.86%, and 6.55%, respectively.In addition, MBOX has slightly increased by 10.98% in the past 2 hours.

According to Binance spot market data, there has been significant volatility in the market. ENSO has increased by 20.37% in the last 24 hours, while ALGO, APE, ENA, EDEN, and GPS have also reached new highs today, with increases ranging from 5.27% to 7.54%.On the other hand, HUMA has experienced a "high and then low" state, with a decrease of 27.41% in the last 24 hours. GRT has similarly shown a "high and then low" state, with a decrease of 6.87%. IOTA has reached a new low for the week, with a decrease of 5.27%.

Bittensor ecological infrastructure project General Tensor (formerly known as General TAO Ventures) has completed an oversubscribed seed round and pre-seed round financing, totaling $5 million. The seed round was led by Good Morning Holdings, supported by Goldman Sachs, while the pre-seed round was led by Lvna Capital in December 2024, with participation from Digital Currency Group (DCG), X Ventures, Proof of Talk, and Outliers Fund.General Tensor was established in early 2024, focusing on building mining, validation, and subnet operation infrastructure for the decentralized AI network Bittensor.

According to Binance spot market data, the market has experienced significant fluctuations. EUL has risen by 22.46% in the last 24 hours, while ENSO is in a "bottoming rebound" state, with an increase of 12.05%.In addition, GRT, JOE, and AGLD have all reached new highs for today, with increases of 5.86%, 5.98%, and 6.91%, respectively. On the other hand, STEEM has hit a new low for the week, with a decrease of 6.42%, and ORCA has reached a new low for today, with a decrease of 8.37%. OM is also in a "high-to-low" state, with a 24-hour decrease of 12.41%.

Vitalik Buterin posted on the X platform, stating that there is an important synergy between the FOCIL mechanism and the account abstraction proposal Ethereum's EIP-8141 (based on 7701). EIP-8141 elevates smart accounts (including multi-signature, quantum-resistant signatures, key changes, Gas sponsorship, etc.) to "first-class citizens," meaning that operations from these accounts can be directly packaged as on-chain transactions without additional encapsulation.At the same time, privacy protocols can achieve a multi-tenant account model through the paymaster or 2D nonce mechanism, thereby gaining the same level of native support. FOCIL provides a censorship-resistant fast transaction inclusion mechanism. With the combination of both, various transactions, including smart wallet transactions, Gas sponsorship transactions, and privacy protocol transactions, can be included in blocks by one of the 17 roles (proposers or inclusions) randomly selected for each time slot.Vitalik stated that this design can ensure that transactions are almost guaranteed to be completed on-chain within 1-2 time slots in adversarial environments. In the current version, each FOCIL volume is approximately 8kB, which is relatively small, but there is a path for future expansion that could support most transactions in a block entering through the FOCIL channel. This architecture is similar in characteristics to the multi-parallel proposer (MCP) design, but differs in that FOCIL does not control the "last look" related to MEV, which is still allocated through the ePBS auction mechanism.Vitalik emphasized that even if 100% of block time slots are monopolized by adversarial parties through the proposer-builder separation (PBS) mechanism, refusing to connect to the public mempool or discriminating against specific applications, FOCIL can still ensure that all transactions receive fast inclusion. Although this design does not eliminate the centralization risk of the proposer role, it significantly weakens its power. Under the EIP-8141 framework, transactions from smart wallets or privacy protocols can be directly received by FOCIL inclusions through the public mempool without additional intermediaries or encapsulation processes.Vitalik concluded that Ethereum is accelerating the advancement of core architecture upgrades.

UPBIT will launch trading support for Bittensor (TAO) on February 16, 2025, at 16:00. Deposits will be opened 1 hour and 30 minutes after the announcement is made. Users are advised to confirm the network before making deposits; the supported network is TAO-Bittensor Network.

Cryptocurrency KOL and former FTX community partner Benson Sun posted that Bitcoin experienced an extreme drop this morning. Calculating with a 200-day lookback period, BTC's decline reached -5.65 standard deviations (σ). The Six Sigma standard in manufacturing allows for only 3.4 defects per million occurrences, which defines "almost impossible" in human industrial civilization. Yesterday's BTC volatility was just 0.35 standard deviations away from this "industrial-grade impossibility."A -5.65σ occurrence has a theoretical probability of about one in ten million under normal distribution. Despite the fat tail effect in financial markets, this level of volatility has only occurred 4 times since BTC began trading in July 2010, accounting for about 0.07% of all trading days. Even during the deep bear phases of 2018 and 2022, such a rapid decline had not occurred within a rolling 200-day period. This poses a severe challenge to quantitative strategies.Currently, most quantitative models are built on data after 2015, and historical samples exceeding 5.65σ, apart from the anomalous "312" flash crash in 2020, occurred before 2015, leaving almost no reference precedent.CoinKarma's quantitative strategy has shown a paper loss in this round of market conditions, but due to maintaining low leverage (about 1.4 times) over the long term, it remains manageable, with a maximum drawdown of about 30%. While extreme market conditions are an expensive "tuition," contracts and on-chain data will become important nutrients for future risk control models.

Former Coinbase CTO and angel investor Balaji Srinivasan stated today that the signs of a fiat currency crisis are already emerging, and physical gold is susceptible to government seizure (as seen with Roosevelt's order in 1933), while digital gold like Bitcoin has greater resistance to seizure due to its invisibility and programmability.In the article, Balaji noted that the gold reserves of BRICS countries have surged since the 2008 financial crisis, indicating a shift in the East towards tangible assets, but the internet will replace the dollar-dominated Keynesianism with digital assets.Balaji concluded that for people in sovereign debt crisis countries like North America and Western Europe, gold may not necessarily be the best safe-haven asset, and Bitcoin is a hedge worth considering.

Ethereum researcher Thomas Thiery (also known as soispoke) proposed FOCIL as a core anti-censorship feature in the Hegota upgrade. Hegota is Ethereum's second major upgrade scheduled for the second half of 2026. FOCIL is a protocol layer mechanism that modifies Ethereum's fork choice rules to enforce the inclusion of any valid transaction in on-chain blocks within a limited time.The main goal of this proposal is to reduce Ethereum's reliance on centralized validators to mitigate the potential risk of large-scale transaction censorship in the future, thereby enhancing Ethereum's core value as a neutral, censorship-resistant blockchain. An Ethereum researcher stated, "Without FOCIL, the protocol would be vulnerable to large-scale censorship events. Ethereum should proactively design for long-term resilience rather than reactively respond to sudden censorship."

Crypto KOL and former FTX community partner Benson Sun stated, "Bitfinex whales have significantly accelerated their accumulation recently. They are building positions of about 400 to 600 BTC daily, while the OTC desk has injected approximately 300 million USDT into Bitfinex recently. This marks the most aggressive accumulation record for Bitfinex since the market bottomed out on November 20 last year. Historically, such a pace of accumulation usually indicates two things: · The current market selling pressure is sufficient, allowing for large-scale accumulation without causing a significant impact on prices; · The capital side believes the market has entered a new phase—previously around the $88,000 mark, there was no accumulation of the same intensity. Although it is unclear what specific signals these funds are seeing, it is certain that they clearly believe that accumulating at the current price level is reasonable and cost-effective."

According to Binance spot data, the market has experienced significant fluctuations. ENSO has risen by 20.98% in 24 hours and is in a rebound state after hitting a low.At the same time, LPT, MDT, QTUM, BERA, TREE, and NOM have all shown a "high and then low" state, with 24-hour declines of 7.68%, 14.14%, 5.38%, 6.68%, 7.21%, and 13.47%, respectively.In addition, ROSE has also shown a rebound state after hitting a low, with an increase of 5.73%.

According to Binance spot market data, the market has experienced significant fluctuations. SOMI has dropped by 19.87% in 24 hours, and ZKC has fallen by 27.27%, showing a "high and then low" state.At the same time, 0G has also shown a "high and then low" state, with a 24-hour drop of 9.14%; ENSO has decreased by 21.47%, also exhibiting a "high and then low" state. Among other tokens, SXP and KNC have both hit new lows today, with declines of 25.95% and 7.54%, respectively.However, MLN has performed relatively well, with a 24-hour increase of 5.41%, showing a "bottoming rebound" state.

According to Binance spot market data, there has been significant volatility in the market. DUSK has increased by 37.26% in 24 hours, and ENSO has increased by 93.43% in 24 hours, reaching a rebound state after hitting a low.At the same time, AXS has shown a "high-to-low" state, with a decrease of 16.47% in 24 hours, LPT has decreased by 17.51% in 24 hours, and SOMI has decreased by 18.87% in 24 hours. The other tokens G, KAIA, and ORCA have also shown a "high-to-low" state, with decreases of 6.09%, 6.92%, and 6.21%, respectively.

According to Binance spot data, the market has experienced significant fluctuations. ENSO has risen by 62% in the last 24 hours, reaching a new high for today.At the same time, both SAGA and PENDLE have hit "new lows for today," with declines of 8.63% and 6.55%, respectively. CHZ has reached a new low for the week, with a drop of 15.39%.Additionally, Binance Life has shown a "bottoming rebound" status, with an increase of 6.06%. NEWT, KERNEL, and TURTLE have also reached new highs for today, with increases of 7.45%, 7.16%, and 6.3%, respectively.