Crypto M - Crypto News

🚀 Bittensor Co-Founder Addresses Covenant AI Incident and Future Plans On April 12, Bittensor co-founder Jacob Robert Steeves responded to the Covenant AI incident, expressing his shock over recent developments. According to BlockBeats, Steeves accused Covenant AI founder Samuel Dare of actions that severely harmed the protocol and community, betraying the trust of investors and users. He apologized to those affected by the incident. Steeves stated that Bittensor was designed to combat greed and selfishness by enabling collective ownership of AI through a permissionless mechanism. He acknowledged that the incident exposed vulnerabilities in the system but also highlighted the opportunity to strengthen the protocol and community's resilience. Looking ahead, Steeves proposed advancing a "Locked Stake" mechanism, introducing a "time + stake" commitment dimension at the protocol level to enhance transparency and investor protection, thereby reducing similar risks. He noted that this plan was initially designed with Samuel Dare's involvement. Furthermore, Steeves mentioned that the development of subnets 3, 39, and 81 will continue under community leadership, with no changes to their overall functionality and vision. He emphasized that Bittensor remains one of the most decentralized AI protocols and will continue to promote open AI development, with plans to advance towards training larger-scale models, including a trillion-parameter model in the future. #Bittensor#CovenantAI#JacobRobertSteeves#SamuelDare#AI#Blockchain#DecentralizedAI#InvestorProtection#LockedStake#AIProtocol#CommunityLeadership#OpenAI#FuturePlans#TrillionParameterModel#TAO

🚀 Crypto Startups Secure $76 Million in Funding in Early Q2 2026 DefiLlama data reveals that crypto startups raised $76 million in the first week of the second quarter of 2026. According to Odaily, the total funding for the year has approached $500 million. Key funding rounds this week include: Pharos secured $44 million in a Series A round with participation from SNZ Holding, Chainlink, and Flow Traders. The company focuses on building a high-performance Layer 1 blockchain compatible with Ethereum applications, emphasizing RWA and decentralized infrastructure networks. Oh raised $7.5 million in a Series A round led by Maven 11, with contributions from L1 Digital, Hashed, Auros Global, and Maelstrom. The project aims to develop a Web3 AI platform offering decentralized AI service tools like OhChat. Kulipa completed a $6.2 million seed round led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures. The company provides branded payment cards for crypto wallets, enabling the conversion of digital assets to traditional currency at checkout. #CryptoStartups#Funding#Q22026#Pharos#SeriesA#Blockchain#Layer1#Ethereum#Oh#Web3#AI#DecentralizedAI#Kulipa#SeedRound#PaymentCards#CryptoWallets#DigitalAssets#TraditionalCurrency