Gemini filed for an IPO, following in the footsteps of Circle’s recent successes. Nonetheless, this move has caused skepticism in the community as some KOLs wonder if this IPO is a bubble indicator.
The company has shown interest in an IPO for several months, and Cameron Winklevoss recently teased big future developments in a public appearance.
Still, this Gemini IPO is not necessarily a huge surprise; the firm teased such a development for months. At the recent Bitcoin Conference, Cameron Winklevoss described bold plans for his firm and the crypto industry as a whole. An IPO would certainly fit the bill. Nonetheless, some influential community members wonder if this is oversaturating the market:
“Oh boy, here comes the next one already. So we have Bitcoin Treasury companies and IPOs this cycle. Doubt Gemini is a good investment, but neither is Circle, and look what they’re valued at. Bubble forming,” WhalePanda claimed via social media.
In other words, some KOLs believe that Gemini’s IPO might represent a market top indicator. The firm has made some advancements recently, but an IPO doesn’t necessarily signal strong fundamentals. Whatever happens, it’s still in the early stages.
Coinbase is listing Worldcoin (WLD), fueling rumors that OpenAI is going to launch its own social media platform soon. Sam Altman will give a live update on the World project today at 7 PM PST in San Francisco.
Both projects have been suffering setbacks lately. Worldcoin lost privacy battles in the EU, and centralized AI development faces rising costs and diminishing returns. This social media integration would bypass both problems for bullish returns.
Will OpenAI Use Worldcoin for Social Media?
Worldcoin, a project to verify human identity, has been gaining traction due to these rumors. When Altman first publicized today’s Worldcoin announcement, community experts began hypothesizing it would involve an OpenAI social media push.
Rumors continue to swirl that OpenAI will announce Worldcoin support in the US next week
If so, we will likely see WLD integration in ChatGPT soon after
Coinbase added Worldcoin to its listing roadmap today, and this timing is turning the OpenAI rumors into a full frenzy. Evidence connecting WLD to a new social media platform has so far been tangential, but this development seems undeniable.
One of the world’s largest exchanges chose to spotlight Worldcoin today, of all days. Anticipation is only building.
Following the Coinbase listing roadmap update, Worldcoin has recovered from an earlier decline, as WLD is up by 3% in the past hour.
Worldcoin (WLD) Price Chart on April 30. Source: TradingView
However, further price movements or a larger rally are probably on hold, as the market awaits confirmation of the OpenAI rumors. Still, if OpenAI does roll out a Worldcoin integration, it could have an explosive impact on price.
If nothing else, this integration would demonstrate Sam Altman’s uncanny ability to maintain investor interest. Recently, the centralized AI sector has been crunched by cost and efficiency concerns. Microsoft’s recent pullbacks from global data centers led to speculation that OpenAI might not be profitable.
“Whether you love him or hate him, I think Sam Altman is a pretty genius product guy. People have been declaring OpenAI dead for a while and it keeps chugging. [Worldcoin integration] is an interesting speculation play, and [WLD] will very likely be the most prominent AI token,” DCInvestor stated.
Still, these rumors might turn out to be false. Until Sam Altman speaks tonight, no concrete link suggests that Worldcoin will be part of any OpenAI social media launch. Today’s presentation could substantially shake up crypto’s environment.
As PI Day approaches, many Pi Network users or Pioneers could lose their accumulated Pi coins.
The risk comes following widespread complaints about the inability to complete the Know Your Customer (KYC) verification process.
Growing Frustration Among Pi Network Users
In a late February announcement, the Pi Network team stated that users who fail to complete KYC and migrate their balance to Mainnet within the extended grace period—ending at 8:00 AM UTC on March 14, 2025—”risk losing most of their mobile balance.”
“…the end of the Grace Period is inevitable to make sure the network can move on in its new phase without large sums of unverified and unclaimed mobile balances. Thus, this is the last chance for any Pioneer to complete the required steps to avoid forfeiting their past mobile balances,” read the announcement.
This announcement has sparked widespread frustration among Pioneers. Based on discontent shared on X (Twitter), many claim they have attempted but failed to complete KYC. Crypto enthusiast Rod Thompson called the situation the biggest con job of crypto, with up to 10,000 PI Coins on the line for him.
“The Pi Network has been earning ad revenue for every one of my daily mining sessions, but I’m going to lose over 10,000 pi coins because people I haven’t spoken to in two years haven’t done KYC. At least one of them passed away over a year ago. That’s over $10,000 due to me for my efforts,” Thompson lamented.
Thompson is not the only Pioneer questioning the fairness of the Pi Network system. Another user, S.O.H., described the situation as “mass social engineering on blockchain.” Meanwhile, others, such as Ahmady Ala, reported that despite mining Pi for six years, they have yet to be allowed to complete KYC.
Pioneer’s screenshot on KYC issues with Pi Network. Source: Ahmady Ala on X
In the same tone, some users have had their KYC documents pending for over two years without resolution.
“My KYC verification has been pending for 2.5 years. Even if it won’t be approved, shouldn’t there be an option to reapply?” user H. Ibrahim posed in frustration.
Unfair Reward Distribution, Centralization, and Migration Delays
In addition to KYC-related frustrations, many users have reported balance inconsistencies. They claim their unverified balance keeps increasing while their transferable balance is significantly reduced.
This makes the migration process confusing, and the lack of transparency leads some to label Pi a “scam network.” Another major concern is the alleged unfair distribution of rewards.
“I mined consistently for 4 years, stayed loyal to Pi Network, brought in 39 people, and even completed KYC for 17 of them—yet I got nothing. Meanwhile, others with no referrals and irregular mining have more Pi than me. How is that fair?” another user, Mango Fan Token, stated.
Meanwhile, despite claiming a user base of 60 million, on-chain data indicates only about 11 million active users. This led to concerns over Pi Network’s actual adoption rate.
Additionally, questions about centralization have emerged. Some critics argue that the project’s control mechanisms limit the potential for a truly decentralized network. Another issue plaguing the network is the failure of many users to migrate their Pi coins to Mainnet.
BeInCrypto reported recently that Pioneers have struggled with transferring their balances, even after fulfilling all required steps. Some users, frustrated by prolonged lockup periods, have resorted to selling their PI Coin accounts on unofficial markets, raising further concerns about the platform’s credibility and long-term viability.
While criticism of the network continues to mount, Pi Coin has recently seen double-digit gains as investors gear up for Pi Day. Some analysts speculate that the surge is driven by optimism surrounding potential developments on March 14.
Pi Network (PI) Price Performance. Source: CoinGecko
CoinGecko data shows that PI Coin’s price was $1.71 as of this writing, up nearly 15% in the last 24 hours. However, whether the price momentum can be sustained in the face of ongoing technical issues and community dissatisfaction remains uncertain.
Societe Generale has introduced USD CoinVertible (USDCV), a US dollar-backed stablecoin designed for institutional clients and fully compliant with MiCA regulations.
USDCV will launch on the Ethereum and Solana blockchains, and trading will begin in July 2025. The Bank of New York Mellon will serve as custodian for its reserves.
New Institutional Stablecoin Prioritizes Regulatory Compliance
Societe Generale-FORGE, a regulated arm of France’s Societe Generale bank, has officially announced the launch of USD CoinVertible (USDCV). This stablecoin targets only institutional users and is unavailable to US residents.
Running on Ethereum and Solana, USDCV offers fast settlement and enhanced interoperability for institutional markets.
The timing aligns with rising demand for regulated digital assets. Each USDCV is pegged to the US dollar, with reserves held by The Bank of New York Mellon.
“After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially. The stablecoin market remains largely US Dollar denominated. This new currency will enable our clients, either institutions, corporates or retail investors, to leverage the benefits of an institutional-grade stablecoin” said Jean-Marc Stenger, Chief Executive Officer of Societe Generale – FORGE.
Societe Generale-FORGE’s approach ensures strict supervision and transparency, meeting the evolving needs of European and global markets.
The French baking giant’s crypto arm will provide daily public updates detailing the composition and value of reserves. These disclosures will be readily available via their collateral disclosure page, allowing stakeholders to verify collateralization in real time.
The Bank of New York Mellon’s custodianship adds another degree of security, supporting Societe Generale-FORGE’s reputation for institutional-grade asset management.
This USD-backed launch follows the earlier success of EUR CoinVertible, Europe’s first institutional stablecoin on a public blockchain, introduced in April 2023. That initiative demonstrated Societe Generale-FORGE’s expertise in regulatory compliance and digital infrastructure.
