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- Pi coin crashes 25%, falling out of the top 50 cryptos.
- Allegations of $20M funding misuse fuel community distrust.
- Ongoing delays and poor communication erode Pi Network’s credibility.
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The Pi Network, once touted as a “community-first” crypto project, is under growing pressure as Pi coin slips out of the top 50 cryptocurrencies. The token has corrected more than 22% in the past week, now trading near $0.25, raising questions about its long-term viability.
Allegations of Misused Funds and Internal Conflicts
Former executive McPhilip has accused the Pi Core Team of mismanaging $20 million in funding raised during 2019–2020. He alleges co-founders Dr. Nicolas Kokkalis and Chengdiao Fan engaged in power struggles, including attempts to dilute his stake by issuing new shares at fractions of a cent. Court filings also reveal workplace disputes, suggesting internal divisions have hindered progress.
Community leaders point out that with $20 million, the team could have built a robust ecosystem years ago. Instead, Pi coin has yet to find meaningful utility, leaving investors frustrated and developers silent.
Yes, you are right. The Core Team received $20 million in funding in 2019. They could have built the entire ecosystem with 100 apps back in 2020 with all that funding, yet they hid it from us and investors. Because of this, we thought the Pi Core Team was paying out of their own… https://t.co/A6M8ggeCHv
— Mr Spock 𝛑 (@MrSpockApe) September 28, 2025
Community Sentiment Turns Sour
Once among the top 15 cryptocurrencies, Pi coin has steadily declined due to repeated mainnet delays and lack of ecosystem development. Users have grown impatient with the Core Team’s limited communication and continued insistence on the controversial Global Consensus Value (GCV), which pegs Pi at $314,159—far from its real market price of $0.25.
The disconnect between official claims and actual market performance has weakened community trust. Even rumors of a Binance listing failed to lift sentiment as sell-offs intensified.
Leadership Silence Fuels Uncertainty
As Chengdiao Fan prepares to speak at TOKEN2049, the Pi community is demanding transparency. Questions remain unanswered about the use of funds, project governance, and the absence of a clear roadmap. The gap between Pi’s vision and its execution continues to grow, leaving many early adopters questioning whether the project can recover.
Also Read: Pi Coin Crashes to New All-Time Low of $0.25 — 90% Down From Peak
The Pi Network faces its toughest test yet. With allegations of mismanagement, internal conflicts, and a token price sliding out of relevance, the project risks losing the trust of its massive user base. Unless the Core Team addresses these concerns openly and delivers real progress, Pi’s promise of building a community-driven ecosystem may fade into another crypto cautionary tale.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
