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TAO drops over 9% in 24 hours, market cap falls to $32.11 billion

2 hours ago

**April 10th Crypto Update: TAO Tanks 9%+ Amid Bittensor Governance Blowup** Per HTX market data, TAO has dropped more than 9% in the past 24 hours, currently trading at $292.7 with its market cap falling to $3.211 billion. On the news front, decentralized AI training group Covenant AI released a public statement officially announcing its exit from the Bittensor network. The team called out Bittensor key figure Jacob Steeves (alias Const) by name, accusing him of systematically betraying decentralized pledges. Covenant AI founder Sam Dare disclosed that Const has recently taken a string of oppressive measures against his team: - Suspended token emissions for its subnets - Revoked its management control of its own community channels - Unilaterally decommissioned subnet infrastructure - Applied economic pressure via large-scale, high-profile token dumping amid the conflict Covenant AI flat-out labeled Bittensor’s touted “three-person multi-sig governance” a “decentralized charade”: Const effectively controls the multi-sig, can push through changes unilaterally at any time (bypassing consensus), and other participants are merely legal liability shields. The statement was scathing: “Bittensor’s entire core promise—that no single entity can control it—is a lie.”
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Ehrling's Law: Value ultimately depends on the asset's worth and trend; if an asset lacks worth, it will not be recognized by the market in the long run

April 10th — Yi Li Hua addressed external claims labeling early operations as “aggressive” or even “pump and dump” during a Binance Square AMA. He emphasized investment ultimately hinges on an asset’s value and trend: assets without fundamental value won’t hold up in the market long-term. For large-cap markets like ETH, he argued a single participant can’t single-handedly pump the asset — it’s more about finding undervalued assets and riding trends. When trends weaken, individual purchases also can’t reverse the dip.

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Biden's Son Challenges Trump's Son to a Public MMA Fight

April 10th Hunter Biden, son of former U.S. President Joe Biden, publicly challenged Donald Trump Jr. and Eric Trump to a "cage fight" on a podcast Wednesday, saying, "I'm definitely in." The bout stems from internet personality Andrew Callaghan, who is organizing a celebrity boxing match and reached out to Hunter about joining. A Trump Organization representative responded by telling Hunter to "stick to finger painting, steer clear of illegal drugs and adult content" — mocking his immaturity and referencing his past scandals.

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ZEC Surges Over 43% in Two Days: Against-the-Tide Short Whale Faces Consecutive Losses, While Another Whale Opens a Short Position at a Liquidation Price of 411 intraday

On April 10, per Hyperliquid Data (https://app.hyperliquid.xyz/join/NTOD), ZEC rallied sharply from ~$269 on April 8, climbing 43.1% briefly over the past two days to hit a high of $385. It is currently trading at $367.5. Additionally, per Hyperinsight Monitoring (https://t.me/HyperInsight), the rally has left whales who shorted ZEC yesterday and in the days prior to April 8 with heavy losses. Of the whales opening new seven-figure positions today, most are trend-following—only one address (0x931) has taken a contrarian bearish stance. The short position was taken with 10x leverage, totaling $3.44 million, at an average entry price of $365.8, with a liquidation price of $411.5. The address has also placed simultaneous take-profit (TP) and stop-loss (SL) orders: TP at $350, SL at $411.

27 minutes ago

Pony.ai Announces PonyWorld World Model 2.0

Pony.ai (02026.HK) unveiled its latest Physical AI breakthrough—the PonyWorld World Model 2.0—on April 10. A key upgrade from Version 1.0, the new model now boasts self-diagnosis and targeted evolution capabilities, marking a new R&D paradigm for the autonomous driving firm’s technology.

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Hodl Gang: Maintaining a long-term bullish view after experiencing multiple bull and bear cycles, but must respect the cycles and massive volatility

April 10th. Yi Lihua, founder of Liquid Capital (formerly LD Capital), noted during a Binance Square AMA yesterday that market pressure stems from multiple factors—including unmet expectations for a Fed rate cut, Middle East conflicts, delays in crypto regulatory reform bills, and the failure of previously discussed "BTC national strategy" expectations to materialize. Adding the four-year cycle dynamic, he believes this round of corrections may exceed initial plans. However, he stressed his long-term bullish stance on ETH remains unchanged, attributing current volatility to external financial conditions and amplified market cyclicality. Having entered the industry at the end of 2015 and lived through two to three bull-bear cycles, he argues a long-term bullish outlook carries more merit from a long-cycle perspective. That said, one shouldn’t be overly optimistic—respect for market cyclicality and "significant volatility" is a must. Additionally, he expressed great surprise at AI’

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U.S. Senator Questions Trump's Use of Meme Coin Luncheon to "Peddle" Access Opportunity

On April 10, three U.S. senators questioned former President Donald Trump’s use of a luncheon event as a lure to promote TRUMP coin purchases by offering preferential treatment to attendees, per Politico. Sens. Elizabeth Warren, Adam Schiff and Richard Blumenthal sent a letter to event organizers requesting documents to clarify Trump’s role in planning, promoting the April 25 Mar-a-Lago gathering, and any potential profits tied to it. The event was restricted to investors holding TRUMP tokens ranked in the top 297. Notably, Trump was also scheduled to attend the White House Correspondents’ Association (WHCA) dinner in Washington, D.C., the same day—raising questions about his ability to attend both. The event’s terms acknowledged Trump “may not be able to attend,” yet organizers still used “contact with the president” as a selling point, the senators noted. They argued this effectively encouraged meme coin purchases to benefit Trump and his family.

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