Pi Network Drops 33%, Falls Below $1 Amid Accusations of Betrayal from Community

Pi Network, which recently surged to $1.40 following a 100% price jump, has now fallen by 33%. The token is currently trading at around $0.86. The sharp drop comes after a May 14 announcement from the Pi Core Team that left many supporters disappointed and angry. What Happened? On May 14, the Pi Core Team announced the launch of Pi Network Ventures—a $100 million investment program designed to support startups and businesses that will help bring real-world use to the Pi cryptocurrency. The fund, held in both Pi and U.S. dollars, aims to back innovative projects across various industries to grow the Pi ecosystem. Users can learn more about the program directly from the home screen of the Pi Network app. The team described the move as a “pivotal step forward” meant to speed up the creation of useful apps and encourage adoption of Pi in everyday life. Why Are People Upset? Crypto analyst, Dr. Altcoin, criticized the announcement on social media, calling it “nothing short of a betrayal.” He said the update, which introduced a new project called Pi Network Ventures, ignored the hard work and loyalty of the community that helped build Pi over the last six years. “We waited, we believed, and we contributed,” Dr. Altcoin wrote. “Now we’re told that the real DApps (decentralized apps) the team promised still don’t exist—and that $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 pointed out that most users, known as Pioneers, didn’t even earn 1,000 Pi tokens due to the team’s decision not to reward referral bonuses. “This is unfair and shows how the community’s work has been undervalued,” he said. With over 70 million users across more than 200 countries, Pi Network grew into a global movement—driven not by investors, but by its people. Now, many Pioneers feel left behind as the Core Team focuses on big ambitions and new projects. “The silence from the Core Team is deafening,” Dr. Altcoin added. “Pioneers aren’t just users—we’re the foundation of Pi Network.” Source: https://coinpedia.org/news/pi-network-drops-33-falls-below-1-amid-accusations-of-betrayal-from-community/