Is Pi Network a scam? This has been a long-standing debate in the digital assets space, and various industry stakeholders have shared their opinions on this. While the crypto network is actively developing in 2025 to create a user-friendly environment and spread wide-scale adoption, the controversy is yet to be settled.
Understanding Pi Network
Pi Network was initially launched in 2019 by a group of Stanford graduates, aiming to make crypto mining accessible to everyone through a simple app on mobile. With promising services through smartphone apps, it accumulated a vast number of users. However, after some time, the project faced continuous criticism, which led to its exclusion from major crypto exchanges.
What Are the Major Red Flags in Pi Network?
Lack of transparency: One of the key reasons for Pi Network’s banishment from crypto exchanges is its lack of transparency. As the blockchain is not transparent, users find it difficult to assess the safety capabilities of the system.
Data Privacy and Risk: Its lack of public evidence demonstrates that Pi Network has undergone a security audit by a third party. Without an audit, the project is viewed as unverified and exposes users’ private information and data to potential risks.
Lack of Technical Conditions: Pi Network encourages a pyramid scheme for its promotion, meaning users are encouraged to invite others to increase the mining speed. While it primarily focuses on expanding the network, the valuable technical services and conditions remain absent.
Major Industry Leader calling Pi Network a Scam
Early this year, Bybit CEO Ben Zhou and a few other crypto experts labelled the Pi Network project a scam. Zhou explicitly said, “Yes, I still think you are a scam, and no, Bybit will not list scam.”
While Zhou shared his opinion about the crypto network openly on X, other crypto exchanges like Coinbase and Binance indicated their views by excluding Pi Network from their crypto listings. Additionally, many other crypto experts continuously call on Pi Network’s lack of security measures and its potential risks that linger over users.
Bitcoin price forecast on Thursday May 1 reflects cautious optimism as BTC fails $96,000 breakout out test for the third day running.
Bitcoin stalls at $95,500 as resistance holds for third day
Bitcoin (BTC) faced firm resistance at the $96,000 mark on Wednesday, halting its short-term rally and confirming a sell-wall at $95,500 for the third consecutive session. The asset continues to oscillate near its all-time highs but has struggled to post a decisive breakout this week.
Market participants have been eyeing a sustained move above $96,000 as a trigger for renewed bullish momentum, but waning volume and macroeconomic caution have weighed down BTC price action.
Bitcoin price action | Coingecko
As of Wednesday’s close, BTC had posted a modest 0.4% gain over 24 hours and was up 0.7% on the week, according to CoinGecko. The global cryptocurrency market cap held at $3.04 trillion, reflecting a 2.8% daily gain, but much of the momentum remains concentrated in Bitcoin and Ethereum.
BTC dominance stands near 62%, as altcoins lag after the US SEC delayed verdicts on ETF filings till June.
BlackRock moves to tokenize $150B Treasury Fund via blockchain infrastructure
BlackRock has filed with the U.S. Securities and Exchange Commission (SEC) to create a blockchain-enabled digital share class for its $150 billion Institutional U.S. Treasury Money Market Fund. The new share class, named DLT Shares, aims to implement blockchain technology for recordkeeping and real-time ownership tracking on a distributed ledger.
BlackRock launched $150B Money Market Fund | April 28, 2025 | Source: SEC.gov
According to the filing, the fund will not use blockchain for managing portfolios or holding cryptocurrencies. Instead, DLT Shares will be structured to mirror existing shares while utilizing blockchain to improve settlement transparency and reduce administrative friction. The offering will be limited to institutional investors, with a minimum investment threshold set at $3 million.
BNY Mellon has been named as the primary infrastructure partner, responsible for integrating and maintaining the blockchain-based recordkeeping system. This development marks a significant step in the financial industry’s incremental adoption of blockchain—not through digital assets, but through tokenized infrastructure that supports legacy systems.
Although the product does not involve crypto exposure, its implications for market sentiment are far-reaching. Institutional adoption of blockchain-enabled infrastructure could legitimize the broader crypto ecosystem, offering tailwinds to assets like Bitcoin through narrative alignment and technological validation.
Looking Ahead: How will Blackrock’s $150B fund impact BTC price
The short-term outlook for Bitcoin remains cautiously optimistic, contingent on a clean break above the $96,000 resistance. BlackRock’s move to incorporate blockchain in one of its largest funds is likely to resonate positively among institutional investors and digital asset stakeholders—even in the absence of direct crypto exposure.
If BTC maintains support above $94,000 and manages a high-volume breakout past $96,000, the $100,000 target could come into play in the coming weeks. In the absence of major macroeconomic shocks or regulatory headwinds, blockchain adoption by traditional finance giants like BlackRock may provide a subtle but powerful bullish undertone.
Bitcoin price traded at $94,280 at press time after printing a narrow-bodied candle, extending its consolidation just below the $95,500 resistance. Price action over the past five sessions reveals a firm ceiling just under $96,000, where sell-side pressure continues to reject upside attempts.
Notably, Bitcoin remains within the upper range of the Keltner Channel bands, with the upper envelope at $95,414 now acting as the immediate upside threshold. A breakout and close above this level could trigger fresh momentum toward the $98,000–$100,000 range.
Bitcoin price forecast today leans bullish, supported by the relative strength index (RSI), which prints at 88.35—firmly in overbought territory. Historically, an RSI above 85 reflects sustained buying interest rather than an imminent reversal, especially when accompanied by stable or rising volumes, as seen here. The RSI moving average (RSI MA) below at 76.60 offers a lagging but firm bullish signal. Volume, while modest at 185 BTC, has been consistent, showing no signs of a selloff panic.
If Bitcoin price rejects the $95,400 upper KC band again, a corrective pullback to the $90,500 midline could be on the cards.
BloFin announces its achievement as one of the first four global exchanges—alongside OKX, Bybit, and Gate.io—to offer full Unified Trading Account (UTA) functionality to all users. This milestone reflects BloFin’s rapid product innovation and its commitment to delivering an institutional-grade trading experience, engineered for performance, capital efficiency, and operational flexibility.
The latest update marks the complete rollout of Unified Trading Account Mode for all sub-accounts, allowing for the seamless management of Spot and Perpetual Futures positions within a single interface. At the same time, BloFin has officially launched Cross-Currency Margin Mode for sub-accounts, allowing users to utilize multiple asset types as collateral, enhancing margin efficiency and improving risk management across positions.
To ensure a seamless transition and support a wide range of user preferences, the Master Account will continue operating under the traditional mode, ensuring a balanced experience for both new users and long-time traders. Sub-accounts, on the other hand, offer access to advanced features under the UTA framework.
Spot Trading Mode – Tailored for users trading without leverage. This mode supports only spot trading and does not permit access to perpetual futures, copy trading (as trader or follower), trading bots, or the use of futures bonuses or vouchers.
Spot and Futures Trading Mode (Default) – Provides access to both spot and perpetual futures trading, along with copy trading functionality, trading bots, and the ability to utilize futures bonuses and vouchers. This mode also supports Single-Currency Margin, enabling users to consolidate margins across positions with the same settlement asset and offset unrealized PnL.
Multi-Currency Margin Mode – Available to accounts with an equity balance of 10,000 USDT or more, this mode allows users to post multiple cryptocurrencies as collateral for perpetual futures trading. Collateral is valued in USD, and margin obligations are shared across positions settled in different currencies. This mode enables cross-asset PnL offsetting but may also introduce spot trading liabilities and cross-currency liquidation risk.
Together, these account modes provide traders with flexible, professional-grade tools to match their strategy, capital size, and risk appetite, underscoring BloFin’s ongoing commitment to building a comprehensive and customizable trading ecosystem.
BloFin is a top-tier cryptocurrency exchange that specializes in futures trading. The platform offers 480+ USDT-M perpetual pairs, spot trading, copy trading, API access, unified account management, and advanced sub-account solutions. Committed to security and compliance, BloFin integrates Fireblocks and Chainalysis to ensure robust asset protection. By partnering with top affiliates, BloFin delivers scalable trading solutions, efficient fund management, and enhanced flexibility for professional traders. As the constant sponsor of TOKEN2049, BloFin continues to expand its global presence, reinforcing its position as the place “WHERE WHALES ARE MADE.” For more information, visit BloFin’s official website.
Several theories are touting Cardano price to clinch $10 but critics are tagging the projections as outlandish. However, one cryptocurrency analyst has picked up the gauntlet to rationalize the claims of ADA reaching $10 during this cycle, citing a slew of factors.
Cardano Price To $10 Is In Play
Cryptocurrency analyst Dan Gambardello has reiterated claims that Cardano price is headed to $10 in this cycle. According to his analysis, Gambardello poked a hole through the barrage of criticisms leveled against ADA optimists backing the asset to reach $10.
Gambardello began his analysis with key ADA fundamentals, citing its speed, decentralization, scalability, and security standards. He points to incoming Bitcoin DeFi and the potential unlocking $2 trillion opportunity for Cardano. The recent Cardano Lace Wallet retrofitted with multichain functionality specifically for the Bitcoin blockchain underscores the point.
The analyst turns his gaze to the impending end of quantitative tightening and the start of quantitative easing by the Federal Reserve and its potential for cryptocurrencies. According to Gambardello, the move signals a major “bullish catalyst” for ADA given the uptick of liquidity flooding the market.
Gambardello bolsters his argument with ADA’s inclusion in the Digital Asset Stockpile as proof of Cardano’s price climbing to $10.
ADA Trading at $10 Is Not A Crazy Idea
At the moment, ADA is trading at $0,70, a far cry from the projected $10. However, Gambardello argues that the Cardano price can clinch reach $10 given its positives.
“A $10, $350 billion market cap sounds crazy to a lot of people, I understand,” said Gambardello. “But I will not ignore the possibility of it just because it sounds crazy.@
The analyst goes on to cite Cardano’s run to reach an all-time high, surging from $0.3 to $3.09 back in 2021. Gambardello says that at the time Cardano price climbed by nearly 1,000% without smart contracts or an inclusion into the Digital Asset Stockpile.
A move toward $10 represents a 1,300% jump for ADA which Gambardello says is within reach given Ethereum’s price action during the last bull run. While Gambardello did not give a clear timeline, he disclosed that multiple ADA retracements are a real possibility before the final march to $10.
