PI网络，Coinbase和上市风险：纽约人

Pi Network的潜在共插曲是列出金票还是傻瓜的差事？我们剖析了谣言，风险以及对投资者的意义。

The buzz around Pi Network potentially listing on Coinbase is deafening. Is it the real deal, or just another crypto pipe dream? Let's break it down, New Yorker style.

PI网络周围的嗡嗡声可能在Coinbase上列出。这是真正的交易，还是另一个加密管道梦？让我们分解，纽约人的风格。

Pi Network and Coinbase: The Rumor Mill Churns

PI Network和Coinbase：谣言磨坊

As of August 2025, the crypto world is buzzing about a possible Coinbase listing for Pi Network. Hints dropped on social media, plus the project's technical progress and some institutional interest, have everyone speculating. Coinbase's CLO, Paul Grewal, even posted a Pi Day image that got tongues wagging. But is there fire under all this smoke?

截至2025年8月，加密货币世界正在嗡嗡作响，以欣赏PI网络可能的共同插件上市。在社交媒体上的提示，加上该项目的技术进步和一些机构兴趣，所有人都在猜测。 Coinbase的CLO Paul Grewal甚至发布了Pi Day图像，舌头摇摆不定。但是，在所有这些烟雾下是否有火？

The Good News: Catalysts for Optimism

好消息：乐观的催化剂

Pi Network's made strides. They're nearing completion of their open-source code, aiming for a full release by September 3, 2025. This is huge because Coinbase needs that transparency. Plus, Valour, a European company, launched a Pi Coin Exchange-Traded Product (ETP), and Ulu Ventures added Pi to their portfolio. Even a listing on Swapfone, a US-regulated exchange, happened. Things are looking up, right?

PI Network取得了长足的进步。他们接近完成其开源代码，旨在在2025年9月3日之前完整发布。这是巨大的，因为Coinbase需要这种透明度。另外，欧洲公司Valor推出了PI硬币交易所交易产品（ETP），Ulu Ventures将PI添加到了他们的投资组合中。甚至在Swapfone上的列表（美国监管的交易所）也发生了。事情正在抬头，对吗？

Hold Your Horses: Risks and Red Flags

握住你的马：风险和危险信号

Not so fast. Pi Network's got a history of delays and governance issues. Their massive token supply is a worry, and real-world utility is still kinda vague. The price is hovering around $0.338, but it's mostly retail investors driving the hype. Analysts are saying this 15% price jump is built on rumors, not solid ground. Regulatory uncertainty is also a biggie. Sure, Valour's ETP is regulated in Europe, but what about the US and the rest of the world?

不那么快。 PI Network有延误和治理问题的历史。他们的大量令牌供应令人担忧，现实世界中的实用程序仍然有些模糊。价格徘徊在0.338美元左右，但主要是驱动炒作的零售投资者。分析师说，这15％的价格上涨是基于谣言而不是坚实的基础。监管不确定性也是一个大事。当然，Valor的ETP在欧洲受到监管，但是美国和世界其他地方呢？

The Institutional Angle: A Double-Edged Sword

机构角度：双刃剑

Institutional interest is nice, but it ain't a guarantee. The Swapfone listing and ETP are cool, but Pi needs to prove to Coinbase that they meet all the strict requirements. This could take months, and Coinbase could still say no. And if Coinbase doesn't confirm a listing by September 2025? Watch out for a price correction.

机构利益很好，但这不是保证。 Swapfone列表和ETP很酷，但是PI需要证明它们满足所有严格要求。这可能需要几个月的时间，而Coinbase仍然可以说不。如果Coinbase在2025年9月之前无法确认上市？提防价格更正。

A Balanced Approach: What Should Investors Do?

平衡的方法：投资者应该做什么？

If you're thinking about investing in Pi Network, be smart. The potential Coinbase listing could bring big rewards, but there are serious risks. Keep an eye on these things:

如果您正在考虑投资PI网络，请保持聪明。潜在的共插入式上市可能会带来很大的回报，但存在严重的风险。密切关注这些事情：

• Open-Source Completion: The September 3, 2025, launch is key for trust.
• Regulatory Clarity: Any news about compliance from Pi or Coinbase matters.
• Market Fundamentals: Look for real-world use and activity.

Until then, treat Pi as a gamble, not a core investment. Only put in what you can afford to lose. But for those with patience, the project's progress is worth watching.

在此之前，将PI视为赌博，而不是核心投资。只能投入您负担得起的损失。但是对于那些有耐心的人来说，该项目的进度值得一看。

My Two Cents

我的两分钱

Personally, I think Pi Network's playing a high-stakes game. The Coinbase listing is a huge gamble, but if they pull it off, it could be massive. The project needs to focus on providing clear utility. The listing on Swapfone and the push for open-source are steps in the right direction. Ultimately, it all hinges on whether Pi Network can deliver on its promises and convince the big players (like Coinbase) that it's the real deal.

就个人而言，我认为Pi Network正在玩高风险游戏。 Coinbase列表是一场巨大的赌博，但是如果他们将其推出，那可能会很大。该项目需要专注于提供清晰的实用程序。 SwapFone上的清单和开源推动是朝正确方向的步骤。最终，这一切都取决于Pi Network是否可以兑现其承诺，并说服大玩家（如Coinbase）这是真正的交易。

The Bottom Line

底线

So, is Pi Network's Coinbase dream a slam dunk or an air ball? Only time will tell. But one thing's for sure: it's a wild ride. And in the crazy world of crypto, you gotta strap in and enjoy the show!

那么，Pi Network的Coinbase是否梦想着扣篮或空气球？只有时间会证明。但是可以肯定的是：这是一个疯狂的旅程。在疯狂的加密世界中，您必须参加并享受演出！