TLDR
- Pi Coin has experienced a significant 25% drop in value, now finding support at $0.25.
- Allegations of financial mismanagement and misuse of $20 million funding have surfaced.
- Internal disputes between Pi Network’s co-founders have led to a toxic work environment.
- The Pi Core team has remained silent about key issues, causing frustration within the community.
- The Pi Coin’s Global Consensus Value of $314,159 remains far above its current market price.
Pi Coin’s price has suffered a significant drop, now finding support at $0.25. This follows a 22% decline in the past week, dropping the altcoin from the top 50 cryptocurrencies. Experts have raised concerns over the Pi Network’s leadership, questioning the project’s lack of utility and delays in launching its mainnet.
Allegations of Misuse of $20 Million Funding
In 2019, the Pi Network received $20 million in funding, which it was intended to use for developing its ecosystem. However, there are claims from former executives that the money was mismanaged. McPhilip, a former Pi Network executive, alleged that the financial resources were mishandled and that he was unfairly removed from the project.
According to court filings, the internal conflicts between co-founders Dr. Nicolas Kokkalis and Chengdiao Fan caused serious workplace issues. McPhilip also claimed that his access to essential company systems, including financial accounts and servers, was revoked after he became involved in internal disputes. He accused the co-founders of attempting to dilute his ownership by issuing new shares at a rate much lower than previously agreed.
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
The mishandling of funds and internal disputes has led to a lack of progress in the Pi Network. With $20 million at its disposal, the project could have created an ecosystem with 100 apps by 2020. According to Pi Community member Mr. Spock. However, due to conflicts over control, the project fell behind, and the funding was not utilized.
Pi Coin Faces Major Setbacks
Pi Coin, once valued among the top 15 cryptocurrencies, has now fallen significantly. In the past week, it saw a 25% drop, slipping below the $0.30 mark and now struggling to hold at $0.25. The lack of utility for Pi Coin, alongside ongoing delays in the mainnet launch, has created a wave of skepticism.
The core team behind Pi Network has remained silent about the project’s setbacks, fueling discontent within the community. Investors and supporters are questioning the transparency of the Pi Network, which was initially touted as a “community-first” project. Despite rumors of Binance potentially listing Pi Coin, the market sentiment remains bearish, with no solid plan or concrete updates from the Pi Core team.
Furthermore, the Pi Coin’s Global Consensus Value (GCV) anomaly, which pegs each coin at $314,159, has raised questions. This high valuation does not align with its current market price of $0.25, which contributes to a loss of trust among its supporters.
Core Team’s Silence Raises Red Flags
As the Pi Network faces increasing scrutiny, the silence from the Pi Core team continues to raise concerns. The leadership has failed to offer clear answers regarding the delay of the mainnet launch and other key issues. This lack of communication has eroded confidence within the Pi community, with many questioning the project’s viability.
The Pi Coin’s dramatic price drop and the mounting allegations of financial mismanagement have left the network. The Pi Core team’s silence and failure to act on the mounting challenges are causing frustration among supporters.
