The utility token of the gaming platform Aria AI, ARIA, plummeted by more than 80% April 9, moments after hitting a new all-time high. Market data shows the token, which traded just below $0.78 around 6:15 a.m. EST, crashed to just over $0.10 in less than an hour.
Covenant AI's exit from Bittensor was prompted by allegations that co-founder Jacob Steeves maintained centralized control, contradicting the project's decentralized mission. The fallout from this departure saw TAO plummet nearly 25% in just six hours, erasing over $650 million in market capitalization.
I'm not Satoshi, but I was early in laser focus on the positive societal implications of cryptography, online privacy and electronic cash, hence my ~1992 onwards active interest in applied research on ecash, privacy tech on cypherpunks list which led to hashcash and other ideas.
Risk appetite remains the dominant headwind across asset classes. The relatively muted response in equities following Nvidia's earnings reinforced that cautious tone, and any additional negative catalysts could weigh further on risk assets, including crypto.