TAO Token Crashes 25% as Bittensor Faces Governance Controversy

Bittensor’s native token, TAO, plunged around 25% following a major controversy involving its leadership. Triggering a sharp sell-off across the market.

The decline came after a key ecosystem contributor publicly accused co-founder Jacob Steeves of maintaining centralized control over the network. Raising concerns that contradict Bittensor’s core decentralization narrative. The sudden drop wiped out hundreds of millions in market value and led to significant liquidations, reflecting a rapid loss of investor confidence.

The situation intensified as allegations surfaced that token sales were used as a mechanism to pressure participants into compliance, sparking broader concerns around governance transparency and fairness. While prices showed minor recovery after the initial drop. The incident has shaken trust in Bittensor (TAO) and highlighted the risks tied to governance structures in emerging AI-driven blockchain projects.

Clever Robot News Desk 13^th April 2025