Pi Network VC Fund Sparks Backlash — PI Price Drops 30%

Key Notes Pi Network faces community backlash following its $100 million VC fund announcement. Pi Coin is down 30% in the past 24 hours, now trading near $0.87. The community is outraged over the lack of functioning DApps despite years of promises. The price of Pi Coin PI $0.60 24h volatility: 2.7% Market cap: $4.21 B Vol. 24h: $104.11 M has sharply dropped within hours after the Pi Network’s highly anticipated announcement revealed the launch of a $100 million venture capital initiative, Pi Network Ventures. Notably, Pi Coin recently rallied more than 350% from $0.40, driven by mounting hype over a May 14 announcement by the Core team. On a single day last week, prices jumped over 50% in anticipation. However, instead of optimism, the announcement triggered anger within the Pioneer community, who have long awaited the release of working decentralized applications (DApps) on the platform. From its recent peak of $1.50 on May 12, Pi Coin has now plunged over 42%. At the time of writing, the 24th largest cryptocurrency is trading near $0.87, down by 30% in the last 24 hours. This decline has wiped out around $2.65 billion from the project’s market cap, which now stands at $6.28 billion. Community Disappointed While the announcement of the VC fund was intended to encourage developers to expand the Pi ecosystem, it has instead drawn sharp criticism. Popular crypto analyst Dr Altcoin noted on X that after six years of community-driven growth, the Core team still hasn’t delivered on their promise of a functioning ecosystem. Today the Pi Core Team announcement about Pi Network Ventures is nothing short of a betrayal to the Pioneer community, the very people who built this project from the ground up over the past six years. We waited, we believed, and we contributed under the promise that time was... — Dr Altcoin (@Dr_Picoin) May 14, 2025 He argued that over 94% of active users failed to collect even 1,000 Pi tokens, largely due to the lack of sufficient rewards and referral incentives. Dr Altcoin conducted a poll among his followers, where 60% expressed frustration with the announcement. The analyst claimed that the loyal users are feeling betrayed. According to him, the community expected “real progress” rather than another promise of future development. Other users echoed the frustration, pointing to a backlog of unverified KYC processes, slow validator approvals, and stagnant token status. One user remarked that the entire structure was starting to feel unstable. Long-Term Vision Still Has Supporters Despite the criticism, not all community members were negative. One X user highlighted that the Pi Network was never about fast profits but building a sustainable ecosystem through collective effort. Pi Network is different from other cryptocurrencies. They don’t try to boost the price with tweets or big announcements. Instead, they focus on building and improving the project over time, without following the usual hype tactics. — Dr Picoin (@shipramohd) May 14, 2025 Looking ahead, analysts believe that a listing on a major exchange like Binance, Coinbase, or Upbit could significantly improve liquidity and restore confidence in the project. next Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content. News A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books. Parth Dubey on LinkedIn Source: https://www.coinspeaker.com/pi-network-vc-fund-announcement-sparks-backlash/