The post Pi Network Drops 33%, Falls Below $1 Amid Accusations of Betrayal from Community appeared first on Coinpedia Fintech News
Pi Network, which recently saw a surge to $1.40 after a 100% price increase, has now dropped sharply by 33%. The token is currently trading around $0.86. This sudden decline follows a major announcement made by the Pi Core Team on May 14, which left many users frustrated and disappointed.
What Happened?
On May 14, the Pi Core Team introduced Pi Network Ventures, a $100 million investment initiative aimed at supporting startups and businesses that can bring real-world use to the Pi cryptocurrency. The fund will be held in both Pi tokens and U.S. dollars, and is designed to promote innovation and help expand the Pi ecosystem.
According to the team, this move is a “pivotal step forward” to accelerate the development of decentralized applications (DApps) and boost everyday adoption of Pi. More information about the program is available on the home screen of the Pi Network app.
Why Are People Upset?
Well-known crypto analyst Dr. Altcoin took to social media to express his frustration, calling the announcement “nothing short of a betrayal.” He criticized the Core Team for launching a new investment project without addressing the long-standing expectations of the community that supported Pi for the last six years.
“We waited, we believed, and we contributed,” Dr. Altcoin posted. “Now we’re told that the real DApps the team promised still don’t exist—and $100 million in value will be used to finally build them. That value came from the trust and efforts of the Pioneer community.”
He also noted that many users, known as Pioneers, haven’t even earned 1,000 Pi due to the removal of referral rewards. “This is unfair and shows how the community’s work has been undervalued,” he added.
With more than 70 million users across 200+ countries, Pi Network evolved into a global movement fueled not by investors, but by ordinary people. Now, many feel abandoned as the Core Team turns its focus to large-scale ventures instead of the loyal base that helped it grow.
“The silence from the Core Team is deafening,” Dr. Altcoin said. “Pioneers aren’t just users—we’re the foundation of Pi Network.”
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