Pi Network's social media account X with 4.3 million followers recently announced that it will release important news related to the Pi ecosystem on May 14.
Notably, the announcement coincides with the opening ceremony of Consensus 2025 Summit - one of the world's largest blockchain events - held in Toronto (Canada). Dr. Nicolas Kokkalis, co-founder of Pi Network, is expected to speak at the event.
Although the specific content has not been disclosed, this announcement quickly attracted attention in the Pi player community. On forums and social networking groups, many "Pi players" expressed their curiosity, and at the same time put forward many hypotheses about the payment or announcement of new partners in the ecosystem.
Mr. Nguyen Minh Hoa (HCMC), a Pi holder, predicted that this announcement shows a high possibility that the Pi Network project will have a big change because Pi Network is the sponsor of the Consensus 2025 Summit.
"The Pi trading community is expecting a new trading mechanism and is especially looking forward to Pi being officially listed on major cryptocurrency exchanges like Binance," said Mr. Hoa.
Pi has increased sharply since May 8
Ms. Tran Le Anh Thu (Tan Binh District, Ho Chi Minh City) also said that she is looking forward to new moves from Pi Network. Choosing the timing to coincide with the Consensus 2025 event partly shows that Pi Network wants to attract attention from the international blockchain community and create a brand to increase the price of Pi coins.
According to the record, although there is no specific information yet, since the Pi Network team revealed that there will be a new announcement on May 14, the price of Pi is increasing rapidly.
Recorded at 5:00 p.m. on May 10, on the OKX exchange, Pi price was at 0.73 USD/Pi, up 25% compared to the announcement date (May 8). Notably, yesterday, May 9, Pi price increased to 0.75 USD/Pi, the highest in nearly a month.
Despite a significant price increase, Pi Network's current price is still 75% lower than its peak of $3.
In a development related to Pi Network, recently, Hanoi City Police said that according to Vietnamese law, "virtual" money in general and "virtual" currency Pi in particular are not considered assets. Therefore, incidents, problems, and disputes related to "virtual" currency transactions, including Pi, are very risky and difficult to protect and handle by law.
At the same time, according to the regulations of the State Bank, "virtual" money is not a means of payment. Therefore, any individual or organization that uses "virtual" money in general, and "virtual" currency Pi in particular, for payment activities, will be punished according to Decree 88/2019, amended by Decree 143/2021, with a fine of 50-100 million VND. Or, they may be prosecuted according to the provisions of the Penal Code on "Crime of violating regulations on banking activities and other activities related to banking activities".
The Cyber Security and High-Tech Crime Prevention Department of Hanoi City Police recommends that people should be cautious and carefully research information before investing in Pi coins.
Source: https://nld.com.vn/pi-network-he-lo-thong-tin-quan-trong-se-cong-bo-vao-ngay-14-5-196250510171912933.htm
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