Pi Network Founder Appears, But Pi Price Continues to Fall

At 10:00 p.m. on May 16, Nicolas Kokkalis, considered the co-founder of the Pi Network ecosystem, participated in the discussion on the topic: "AI + Blockchain infrastructure to promote mass adoption", at the Consensus 2025 event.

Pi co-founder Nicolas Kokkalis (left) -

Previously, on the evening of May 14, his image also appeared in an interview video on a cryptocurrency platform to announce the establishment of Pi Network Ventures, a $100 million investment fund (including Pi tokens and cash) to invest in projects built on Pi or contribute to the development of the ecosystem.

This fund is derived from 10% of the Pi token supply which is reserved for ecosystem development initiatives and aims to increase the practical application of Pi tokens through real-world products, services and transactions.

Unlike many traditional crypto funds that only focus on Web3, Pi Network Ventures is willing to expand its investments to the technology sector in general, including: AI, Fintech, e-commerce, social networks and real -world consumer applications.

However, this is the first time Nicolas Kokkalis has appeared in person. During this discussion, the founder introduced Pi Network as a social network with tens of millions of users in the past 6 years.

He also proudly emphasized the special feature of Pi Network is KYC, each account on the blockchain must pass this feature before being activated.

At the same time, he talked about the development of technology and its impact on the present time, specifically AI, especially generative AI. According to him, the world has just witnessed a spectacular breakthrough in AI models; now the focus is shifting to the stage of creating valuable applications and products.

Notably, the information that Pi Network released on May 14 and the appearance of the co-founder did not increase the price of Pi, but on the contrary, the price of this virtual currency continuously decreased and caused many investors to lose heavily.

Specifically, after the announcement of the establishment of the Pi Ventures fund, the price of Pi fell from 1.2 USD /Pi to 0.8 USD /Pi and after Nicolas Kokkalis finished speaking at the event, the price of Pi continued to fall and is currently trading around 0.7 USD /Pi. The market capitalization of Pi in recent days has decreased from 9 billion USD on May 12 to 4.8 billion USD ; only more than 600 billion USD was traded in the past 24 hours.

Pi Price Drops Sharply After Co-Founder Appears.

According to Mr. Nguyen Hoang Anh, a cryptocurrency investor in Ho Chi Minh City, the decrease in Pi price is inevitable, when the Pi community is expecting to receive positive news from this project and assurances from the founders, but in fact the information that Pi Core Team provides is completely new. They do not say anything about the project and it does not guarantee the safety of investors.

For example, regarding the Pi Ventures fund, they not only invest in cryptocurrencies but also in the technology sector in general, and the money is taken from 10% of Pi tokens; investors can completely suspect that the founding team is using the excuse of dumping Pi into the market. The co-founder of Pi also only talks about technology but does not say anything about the future development direction of the project, nor does he answer questions that the community has raised so far.

Mr. Hai Thanh, a long-time Pi miner and investor, also expressed his disappointment at the information that appeared on May 14 and 16.

“The Pi Network community had high expectations for the information that the Pi Core Team and co-founders would release on May 14 and 16, but what we received was still no clear information about the project. It seems that they do not care about Pi miners and investors like us, for example, the price has been fluctuating continuously in the past few days, and they have not commented or intervened. I feel like I have been scammed and will not continue to invest in Pi Network,” Mr. Thanh was upset.

Source: https://znews.vn/nguoi-sang-lap-pi-network-da-xuat-hien-nhung-gia-pi-van-tiep-tuc-giam-post1553697.html