Pi Coin's Price Plunge: Misused Funding and a Silent Core Team

Pi Coin faces a price drop and allegations of misused funding, compounded by the Pi Core team's silence, sparking community frustration.

Pi Coin, once a promising crypto project, is now facing significant headwinds. A price drop, allegations of misused funding, and a silent core team have left the community questioning its future.

The Price Drop and Market Sentiment

Pi Coin's price has taken a significant hit, finding support around $0.25. This follows a 22% decline in the past week, causing it to fall from the top 50 cryptocurrencies. This price decline reflects a broader market sentiment of skepticism, fueled by the project's lack of utility and ongoing delays in launching its mainnet. As of late September 2025, Pi Coin was priced at $0.2623, a 1.83% decrease in 24 hours, with a market cap of $2.16 billion.

Allegations of Misused Funding

In 2019, the Pi Network received $20 million in funding intended for ecosystem development. However, allegations have surfaced from former executives claiming mismanagement of these funds. McPhilip, a former executive, alleged that the funds were mishandled and that he was unfairly removed from the project after raising concerns. Court filings indicate internal conflicts between co-founders Dr. Nicolas Kokkalis and Chengdiao Fan, leading to workplace issues.

Pi Community members, like Mr. Spock, have pointed out that with $20 million, the Pi Network could have built an entire ecosystem with 100 apps back in 2020. The failure to do so has raised questions about where the money went and why the project has fallen so far behind.

The Core Team's Silence

The Pi Core team's silence on these issues has further eroded trust within the community. Investors and supporters are questioning the transparency of the Pi Network, which was initially touted as a “community-first” project. The lack of communication regarding the mainnet launch delay and other key issues has fueled discontent. The silence is deafening, and it's not helping to calm the nerves of those who believed in the project.

The Global Consensus Value (GCV) Anomaly

Adding to the confusion is the Pi Coin's Global Consensus Value (GCV) anomaly, which pegs each coin at an unrealistic $314,159. This high valuation is wildly out of sync with its current market price of around $0.25, contributing to a loss of trust among supporters.

Looking Ahead

The situation surrounding Pi Coin is complex. The price drop, allegations of misused funding, and the core team's silence paint a concerning picture. The project needs to address these issues head-on to regain the trust of its community and find a path forward.

While Pi Coin navigates these challenges, other projects like Remittix (RTX) are gaining traction. Remittix, a cross-chain DeFi project, has seen significant presale success and is positioned as a reliable alternative for investors. The success of Remittix compared to Pi Coin's struggles, highlights the importance of transparency, utility, and active communication in the crypto space.

So, what's the takeaway? Pi Coin's got some serious soul-searching to do. Maybe it's time for the core team to break the silence and start building some real bridges with their community. Otherwise, Pi Coin might just fade into crypto history. Keep your eyes peeled, folks, because in the crypto world, anything can happen!