Pi Network Coin News: Insider Info, Sell-Off Rumors, and What’s Next

In recent days, Pi Network has come under renewed scrutiny from its community following a steep decline in the value of its native token, PI coin. 

What began as hopeful anticipation around the project’s presence at Consensus 2025 has now turned into heated debate. The situation escalated quickly after unverified claims of insider activity surfaced online, sparking concern over the transparency and direction of the network. 

The controversy has placed the project in a difficult position, with users demanding clarity while the price of the PI coin continues to fall.

Insider Allegations Spark Community Backlash

On May 17, a respected Pi Network community figure known as Dr. Picoin publicly accused the Pi Core Team of offloading millions of Pi tokens during a recent price peak. 

According to blockchain data he cited, a 12 million Pi token transfer took place just as the token’s price reached approximately $1.60.

Dr. Picoin claimed that these transfers were timed to coincide with major project announcements, suggesting that the core team may have used the distraction to move large amounts of tokens quietly. 

He also alleged that the transactions were not disclosed transparently to the community, fueling fears of a potential insider-driven sell-off.

While the claims remain unverified, they quickly gained traction across online forums, intensifying existing skepticism about the project’s financial management.

Read also: $100 Million Fund from Pi Network Ventures to Power the Next Wave of Blockchain-Integrated Startups

Is It a Sell-Off or Just a Misunderstanding?

Not everyone agrees with the insider sell-off theory. Some members of the Pi Network community have come forward to defend the core team, arguing that the wallet address in question — labeled GABT7EMP — is a distribution wallet used for operational functions.

These users believe the observed transactions are simply part of routine migration from testnet to mainnet, rather than evidence of a deliberate sell-off. 

One account stated, “They are not selling Pi. People are misreading blockchain data and assuming the worst without understanding how the wallet operates.”

However, the lack of official clarification from the Pi Core Team has left many users uncertain and increasingly frustrated.

What Happened at Consensus 2025?

Expectations were high for Pi Network’s appearance at the Consensus 2025 conference. Supporters anticipated major updates, including a full mainnet launch and the release of dozens of decentralized applications. 

Instead, the core team announced the launch of Pi Network Ventures, a $100 million ecosystem fund to support developers building within the Pi ecosystem.

The fund, which is composed of both fiat currency and Pi tokens, is aimed at promoting long-term utility. According to the announcement, 10% of the total Pi token supply has been allocated to this fund. The initiative intends to back projects in blockchain, AI, fintech, social media, and consumer applications.

Although this move signals a broader vision for the Pi Network beyond cryptocurrency, many in the community were left disappointed. Several users described the announcement as vague and lacking the specific updates they had hoped for, such as a definitive timeline for the mainnet or clear plans for token listings.

Read also: Pi Network New Update, Bring the Bullish Momentum?

Leadership’s Response and the Market Reaction

Dr. Nicolas Kokkalis, co-founder of Pi Network, made his first public appearance in months at the Consensus 2025 event. 

During a panel discussion on blockchain and AI, he outlined Pi Network’s direction, including efforts to integrate artificial intelligence and decentralized identity tools.

He also confirmed that the network’s central node had been decommissioned, which he described as a step toward full decentralization. 

Additionally, he announced a new software upgrade called Horizon for Pi Node operators, intended to improve the network’s stability and readiness for mainnet launch.

Despite these announcements, the PI coin price continued its downward trend. From $1.20 on May 14, the price fell to $0.80 shortly after the Pi Ventures announcement. By May 16, following Kokkalis’s presentation, the token had dropped further to around $0.70. 

Its market capitalization declined from $9 billion to approximately $4.8 billion in just a few days, accompanied by falling trading volumes.

Community Sentiment Turns Cautious

Investors and miners have responded with increasing skepticism. In Vietnam, where Pi Network enjoys a strong following, local investor Nguyen Hoang Anh remarked that the community had hoped for "groundbreaking updates," but instead received general statements without solid direction.

Long-time miner Hai Thanh echoed these sentiments. “There are no clear updates. It feels like the team is ignoring the concerns of miners and investors. I no longer believe in the project,” he said.

The discontent reflects a broader shift in sentiment among early adopters, many of whom now question the Pi Network’s leadership and vision. Despite the project’s large user base and long development timeline, these recent events have cast doubt on its next steps.

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Frequently Asked Questions (FAQ)

Q: Will Pi make people rich? 

A: No, making a lot of money from Pi is described as very difficult, and expecting to get rich from it is likely unrealistic.

Q: Can I sell my PI coin? 

A: Yes, once Pi is listed on a cryptocurrency exchange, you can sell it and either get regular money, stablecoins, or trade it for other cryptocurrencies.

Q: Is it safe to invest in Pi? 

A: Pi Network has some concerns, like its "Security Circles" model, which can resemble multi-level marketing. Even though its main network launched in 2025, PI coin still isn't widely listed on exchanges, making it hard to use in the real world.

Q: Can I turn pi into real money? 

A: You cannot directly exchange Pi for regular money within the Pi Network Mainnet. To convert Pi to real money, you would first need to transfer it to a centralized exchange like OKX or Bitget.

Q: Will Pi have a future? 

A: According to one prediction, the value of Pi might increase by 5% and reach $0.938741 by 2030.