The new investment vehicle arrives as asset managers expand TAO offerings and decentralized AI gains momentum following recent restrictions on Anthropic's models. Yuma, a Digital Currency Group-backed investment company, has launched a fund that gives institutional investors diversified exposure to the Bittensor ecosystem, as asset managers expand investment products tied to decentralized AI. Read more
Covenant AI said it was leaving Bittensor due to its overreaching control on subnets and their large-scale TAO token sales, but Bittensor’s founder denied all allegations. Bittensor subnet developer Covenant AI said Friday that it is leaving the decentralized artificial intelligence network, accusing Bittensor of operating under a concentrated governance structure that undermines its decentralization claims. In a Friday post on X, Covenant AI founder Sam Dare said the team could no longer build on or raise for Bittensor because its governance was not meaningfully distributed. “It is decentralization theatre,” Dare said. “Jacob Steeves maintains effective control over the triumvirate, resists any meaningful transfer of authority, and deploys changes unilaterally whenever he chooses, without process and without consensus.” Read more
Bittensor’s first token halving is scheduled for Dec. 14, reducing TAO issuance by half as the AI-focused network adopts a Bitcoin-style fixed supply model. With Bitcoin now in its fourth quadrennial halving, other decentralized projects have adopted similar supply-cut cycles — and Bittensor is approaching its first since launching in 2021. Bittensor, a decentralized, open-source machine-learning network built around specialized “subnets” that incentivize marketplaces for AI services, is expected to undergo its inaugural halving on or around Dec. 14. At that point, issuance of its native token, TAO (TAO), will drop to 3,600 per day from the current 7,200. Grayscale Research analyst William Ogden Moore called the event a “key milestone in the network’s maturation as it progresses toward its 21 million token supply cap,” matching Bitcoin’s (BTC) fixed limit. Read more