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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.

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.

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.

The decentralized machine learning network Bittensor has officially partnered with the Web3 education and developer platform HackQuest to jointly launch the Bittensor × HackQuest: Build on Bittensor global developer program. This program focuses on Subnet development and aims to encourage global developers, researchers, and builders to systematically participate in the Bittensor decentralized AI ecosystem.Build on Bittensor is Bittensor's first developer program. The program will combine Bittensor's decentralized machine learning and Subnet architecture design with HackQuest's experience in developer education, local execution, and community organization, providing a complete participation path from learning to practice for developers from various backgrounds.This program continues the joint tour activities previously conducted in multiple cities and officially upgrades to a global developer tour (Bittensor × HackQuest Tour). Past events have attracted over 500 developers, university students, and AI researchers, facilitating in-depth discussions on decentralized AI, Web3 infrastructure, and the Bittensor Subnet mechanism, demonstrating the developer community's strong interest in real Subnet construction and mechanism design.As an important part of the Build on Bittensor program, both parties will launch the Bittensor Subnet Ideathon for the first time, open to global developers. Participants will design and build their own Subnet solutions around Bittensor's Subnet architecture, gaining practical understanding of decentralized incentives, miner and validator collaboration mechanisms, and have the opportunity to receive cash rewards, incubation, and subsequent ecosystem support.Additionally, for developers who are new to Bittensor, HackQuest will provide a structured learning path (Learning Track) covering the basic concepts of Bittensor, understanding of the Subnet mechanism, and practical development preparation, helping new developers smoothly transition from entry-level to participating in Subnet construction.In the future, Bittensor and HackQuest will continue to promote the Build on Bittensor series of activities globally, further expanding the developer base for decentralized AI and driving more Subnets from concept to real operation.

According to Crowdfundinsider, Grayscale Investments has submitted a preliminary registration statement to the SEC, proposing to launch an exchange-traded product focused on Bittensor. The trust is coded as GTAO and aims to provide investors with the opportunity to directly invest in Bittensor's native token, TAO, through regulated channels.The submitted S-1 filing marks the initial phase of converting the existing Grayscale Bittensor Trust into a spot ETF. If approved, GTAO will become the first ETP focused on TAO to be listed in the United States, allowing retail and institutional investors to gain investment exposure without directly holding the underlying crypto token.

Grayscale has submitted an S-1 filing to the U.S. SEC, intending to launch a spot ETF product tracking BitTensor (TAO), further expanding its cryptocurrency asset ETF product line.

According to the official announcement, Bittensor has completed its first halving event in history, reducing the daily token output from 7200 TAO to 3600 TAO.

According to The Block, Grayscale's Grayscale Bittensor Trust has begun trading on the OTCQX, a secondary market operated by OTC Markets Group Inc., under the ticker symbol GTAO.The trust has remained private since its establishment in August 2024, meaning it will now be open to a broader range of investors through a public offering. Additionally, Bittensor is expected to undergo a halving on December 14, which will reduce the token issuance allocated to network participants, thereby increasing the scarcity of TAO.

According to The Block, Grayscale research analyst Will Ogden Moore stated: "Bitcoin's history shows that even with reduced rewards, a decrease in supply can enhance network value, as Bitcoin's network security and market value have been strengthened through four consecutive halvings. Similarly, Bittensor's first halving marks an important milestone in the network's maturation as it moves towards a supply cap of 21 million tokens."Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest on the rise. Moore pointed out that the dTAO launched in February this year is a significant achievement for Bittensor. This mechanism allows subnets to be directly invested in, leading to a substantial expansion of the total market capitalization of these subnets. Moore wrote: "We believe that the early success of certain subnet-based applications, the increase of institutional capital in the Bittensor ecosystem, and the upcoming TAO supply halving could all serve as positive catalysts for driving prices higher."Previously, it was reported that Bittensor will experience its first halving on December 14, when the daily issuance of TAO will be reduced to 3,600 tokens.

According to Cointelegraph, the AI project Bittensor will experience its first halving on December 14, when the daily issuance of TAO will decrease from 7,200 to 3,600.Bittensor is a decentralized open-source machine learning network built around specialized "subnets," creating a market for AI services through incentive mechanisms. Grayscale Research analyst William Ogden Moore described this event as a "key milestone in the network's maturation," as Bittensor moves towards a capped supply of 21 million tokens, adopting a fixed supply model similar to that of Bitcoin.

The Tensor Foundation is the developer of the Solana ecosystem trading platform Vector.fun. Coinbase announced the acquisition of Vector.fun and stated that the Tensor Foundation will remain independent from Coinbase.Earlier reports this evening indicated that the Tensor Foundation announced the acquisition of Tensor Marketplace and Tensorians NFT, raising concerns about insider trading.

According to market news, the Tensor Foundation has acquired Tensor Marketplace and the Tensorians NFT series.Two days before this announcement, the price of TNSR surged by about 300%, raising speculation of possible insider trading. Under the leadership of the new management, all transaction fees from the trading platform will be allocated to the TNSR token treasury, while the portion of unallocated tokens, which accounts for 21.6% of the supply, will be burned, and the allocated tokens will be re-locked for three years.

According to official news, TAO Financial Company TAO Synergies Inc. (NASDAQ: TAOX) announced that it has made an initial investment of $750,000 in the Bittensor subnet fund under Yuma Asset Management, thereby enhancing the company's investment in the Bittensor ecosystem subnet field.

ChainCatcher news, according to ZachXBT, has successfully identified a suspect in the Bittensor ($TAO) theft incident through investigation and received a bounty for its white hat actions. The case resulted in over $28 million being stolen from 32 TAO holders.ZachXBT traced the on-chain transfer records, Railgun privacy protocol flows, Avalanche bridging records, and unusual NFT laundering behaviors (such as purchasing anime NFTs at prices far above the floor price) to ultimately link to a former employee's address, revealing the path of the stolen funds.

ChainCatcher news, Yuma, a subsidiary of Digital Currency Group focused on the decentralized AI network Bittensor, announced the establishment of an asset management department on October 9, with an initial investment of $10 million from DCG.The department will launch two flagship funds: the Yuma Subnet Composite Fund, which tracks all active subnets, and the Yuma Large Cap Subnet Fund, which focuses on large subnets.