Pi Coin Price Crashes – Why Pi Network's Core Team Is Losing Community Trust

Dr Altcoin is one of the most vocal ones in the Pi Network community. Today, he weighed in on the situation around the trust the community does not have in the team.

The Pi Coin price has crashed by over 30% in the last 24 hours as the market reacts to the latest developments in the Pi Network sphere.

Dr Altcoin, a well-known figure in the crypto sphere, took to X to comment on the growing distrust towards the Pi Core Team.

The trigger for both the criticism and the price drop seems to be the recent announcement of Pi Network Ventures, a new $100 million fund that will be used to support DApp development on the Pi ecosystem. On paper, this should be good news. But for many Pioneers, it came as a slap in the face.

After six years of mining, promoting, and building hype, users were again and again told that the launch of the open mainnet was “just around the corner.” One of the conditions for that launch was having at least 100 real, functioning Pi apps. But with the open network now live in 2025, it’s become clear that most of those apps still don’t exist.

The Pi Core Team’s Latest Move Leaves Pioneers Behind

“Recent launch of Pi Network Ventures sparks FRUSTRATION among Pioneers. After 6 YEARS of dedication, mining, promoting & waiting, we were told we'd have a thriving ecosystem. But where are the 100+ DApps they promised in 2019? It's 2025 and most of them still don't exist.

The Core Team is now using part of the $100 million fund to BUILD the very ecosystem that was supposed to be ready. A HUGE question arises: What happened to all the in-app ad revenue they've been collecting for years? And where did the effort and money from all the hackathons go to launch these apps?

Many Pioneers are also feeling the brunt of the referral and ambassador bonuses that were never paid out fully, despite Pioneers diligently inviting members and staying active. The KYC process has also been an agony with constant delays since it started in 2021.

This recent price drop is a consequence of this growing disappointment. Just days ago, there was a brief surge in Pi's value as the Core Team teased a 'big announcement.' However, when it turned out to be the venture fund, not a major exchange listing or a working app ecosystem, the market reacted sharply.

Pioneers are tired of promises and want to see PROGRESS. For many, it's not about impatience, it's about accountability. The Core Team had years to build what they said they would. Now, after all that time, they're asking for more trust to do the work that should have already been done.”

Despite his criticism of the Pi Core Team, Dr Altcoin expressed his belief that the project can still succeed.

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