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South Korea is set for a major crypto regulatory overhaul under newly elected President Lee Jae-myung. As Bloomberg reported earlier today, the ruling Democratic Party proposed the Digital Asset Basic Act, with plans to facilitate the use of stablecoins. Will South Korea’s new crypto regulations give it a competitive edge over the US? South Korea
The post South Korea Advances Bill to Legalize Stablecoins Amid GENIUS Act Delay in US appeared first on CoinGape.
The post Pi Network Price Crashes 11%, Inches Closer to All-Time Low Below $0.40 appeared first on Coinpedia Fintech News
The crypto market took a sharp dive after the U.S. President Donald Trump ordered surprise airstrikes on Iran’s nuclear facilities. The attack reportedly took out three major nuclear-powered sites, sparking geopolitical tension and a wave of panic across global markets.
As news of the airstrikes broke, Bitcoin, Ethereum, and other leading cryptocurrencies saw heavy sell-offs, with billions wiped from the market in just hours. Many bullish positions were liquidated as traders rushed to pull out of risky assets amid fears of further escalation.
The price of Pi Network’s Pi Coin has plunged by 11% in the last 24 hours, slipping dangerously close to its all-time low. At the time of writing, Pi is trading at $0.47, leaving many holders worried about the coin’s future.
This latest drop comes after a difficult few weeks for Pi Coin, with prices crashing over 30% in June alone. One of the main reasons behind the fall is a massive token unlock of 263 million Pi tokens this month, worth around $143 million. This huge increase in supply has added selling pressure, pushing prices down.
Technical indicators show that Pi might be approaching oversold territory, a level where prices often bounce back. On top of that, June 28th, known as 2 Pi Day in the Pi community — is just days away. Historically, the project has made big announcements around this date, and many are hoping for fresh updates, partnerships, or new features that could lift market sentiment.
However, analyst Dr Altcoin took to social media and wrote, “Pi is officially in the $0.4 range, and I expect it to remain there until the end of August. Pi Day 2 is unlikely to have any impact.”
The post Pi Network Price Crashes 11%, Inches Closer to All-Time Low Below $0.40 appeared first on Coinpedia Fintech News
The crypto market took a sharp dive after the U.S. President Donald Trump ordered surprise airstrikes on Iran’s nuclear facilities. The attack reportedly took out three major nuclear-powered sites, sparking geopolitical tension and a wave of panic across global markets. As news of the airstrikes broke, Bitcoin, Ethereum, and other leading cryptocurrencies saw heavy sell-offs, …
Since the Pi Network mainnet launched on February 20, it has made headlines for its ambitious goals. Yet, it has also faced substantial criticism. The underwhelming price performance and lack of DApps, among other issues, have raised questions about Pi Network’s ability to meet the expectations of its reported 60 million users, referred to as Pioneers.
Below are five key areas of underperformance that emerged as focal points for observers in early 2025.
Pi Network’s community has been vocal in its push for a listing on major exchanges like Binance. In fact, 86% of participants voted to list Pi Coin (PI) in a February community vote.
Despite this show of support, Binance has not listed PI. On May 15, the exchange posted its logo on X (formerly Twitter) featuring several mathematical symbols, including π. The post sparked speculation among Pioneers, but no official listing announcement followed.
The absence of a listing has led to renewed scrutiny over Pi Network’s credibility. Notably, Binance applies a rigorous evaluation process before listing any asset.
The exchange considers user adoption, business model viability, relevance, tokenomics, technical security, team background, and compliance with regulatory standards. The decision not to list Pi Coin may indicate that the project has yet to meet one or more of these critical benchmarks.
“I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. It is likely that the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT,” Pioneer Dr. Altcoin posted on March 22.
Coinbase, another top exchange, has also refrained from listing Pi. This has further fueled disappointment among Pioneers about the token’s potential for mainstream adoption. Nonetheless, Pi Coin remains available for trading on HTX, Bitget, MEXC, and OKX.
Pioneers have been actively mining Pi Coin for around six years, anticipating major gains. Yet, its price was a major letdown for many. At launch, Pi Coin was listed on OKX with a floor price of just $2. This was way below its IOU trading value.
The underwhelming debut worsened as PI dipped below the $1 mark shortly after listing. Although the token rebounded to an all-time high of $3 in late February, the rally was short-lived. PI soon resumed its downtrend, falling below $1 again by late March.
Last week, the level was briefly reclaimed as support. Yet once more, PI failed to hold above it. These declines came despite some bullish catalysts.
The launch of the Pi Ventures Fund was followed by a sharp price drop rather than a recovery. Additionally, Pi Network founder Nicolas Kokkalis made a rare public appearance at Consensus 2025 on May 16.
Many hoped it would restore investor confidence. Instead, the token plunged. BeInCrypto data showed that PI dipped 42.6% over the past week. At press time, Pi Coin’s price was $0.7, down 3.1% over the past day.
BeInCrypto reported that allegations of insider selling and concerns about a potential rug pull have further compounded investor worries.
On May 14, the Pi core team introduced Pi Network Ventures. The initiative aims to support startups building on the network.
While the official announcement outlines a funding pool of up to $100 million, Pi Network Foundation retains full discretion over the deployment of these funds.
“The Pi Foundation is not obligated to invest the entire $100 million, based on the quality of applicants and number of startups accepted into the initiative,” the blog read.
The initiative also allows for phased investments over time. Additionally, the Foundation can discontinue funding at any stage. This condition has not been well received by some in the community, who expected more immediate and guaranteed support for ecosystem development.
“The $100M promise investment will discontinue from time to time if they don’t see any investors coming or having no impact at all LOL,” a user wrote.
The concerns extend beyond the fund’s stability. Dr. Altcoin alleged that the team is using the fund to build DApps that should have already been completed.
He explained that one of Pi Network’s mainnet launch conditions was deploying 100 live dApps. As of May 2025, this promise remains unfulfilled, with most dApps still missing from the ecosystem.
“After 6 years of waiting, why isnt anyone asking the real question: Where are the 100 Dapps we were promised?” the analyst stated.
The shortfall has left many in the community questioning the network’s readiness and ability to support a functional ecosystem.
Another major concern is the lack of transparency. Pi Network unveiled a three-phase roadmap for its mainnet migration in April 2025, but the absence of specific timelines has frustrated users.
A report from BeInCrypto highlighted the community’s backlash, emphasizing that the roadmap did not include estimated dates or an audit process to address discrepancies in historical mining data. This has further deepened distrust in the project’s leadership.
That’s not all. Other issues, such as delays in KYC and challenges in migrating tokens to the Pi Network mainnet, have also been prevalent.
Thus, Pi Network’s first three months post-launch have been marked by unmet expectations and growing disillusionment among its Pioneers. As the network navigates these setbacks, its ability to deliver on its ambitious vision will be critical to restoring confidence in the months ahead.
The post Top 5 Biggest Setbacks Pi Network Faced After Mainnet Launch appeared first on BeInCrypto.
Despite political controversies surrounding the Trump Gala Dinner event, the crypto market has recently witnessed a significant accumulation wave of the TRUMP token, a meme coin associated with the Trump family.
These activities reflect strong interest from major investors, often called “whales,” and highlight the TRUMP token’s growth potential amidst a volatile market.
The accumulation trend for the TRUMP token gained momentum as large investors consistently executed noteworthy transactions.
On April 28, 2025, a whale withdrew 190,987 TRUMP tokens from Binance, increasing its total holdings to 1.389 million tokens, equivalent to $20.59 million. This investor, known by the alias “MeCo,” currently holds the second position among the top holders vying for a spot at the Trump Gala Dinner, trailing only Justin Sun.
On the same day, another whale bolstered its holdings by adding 92,460 TRUMP tokens, belonging to the top 125 holders.
Before that, on April 27, a savvy trader swapped 1.18 million Fartcoins for 78,671 TRUMP tokens. Moving to April 26, a prominent whale reinvested early profits and additional funds, purchasing $5.73 million worth of TRUMP tokens.
Also on that day, a whale withdrew 413,530 TRUMP tokens from a CEX platform.
These transactions reveal a clear trend: major investors are accumulating TRUMP tokens to secure their spots at the Trump Gala Dinner, an exclusive event reserved for top token holders.
Despite these activities, TRUMP has shown positive performance signals in the market. According to data from BeInCrypto, the price of TRUMP surged by 84% over the past seven days, outpacing many other cryptocurrencies.
The spot trading volume of TRUMP on Binance also skyrocketed by 202% within nine days. However, despite these positive indicators, the Trump Gala Dinner has sparked intense political controversy.
On April 25, 2025, two US Senators, Adam Schiff and Elizabeth Warren, sent a letter to the U.S. Office of Government Ethics. They called for an investigation into the event because they believed it violated federal ethics regulations.
The Senators expressed concerns that the event could constitute a “pay-to-play” scheme. Investors pay for political access, as Trump promised a private dinner on May 22, 2025, for the top.
Following this announcement, the TRUMP token’s value surged over $100 million. This raised suspicions that the Trump family might leverage their political influence for profit.
Schiff and Warren also questioned whether Trump or his family had received guidance on profiting from digital assets during his tenure. And what safeguards exist to prevent the purchase of political access through TRUMP token investments?
This controversy has sparked broader questions about the intersection of cryptocurrency and politics, particularly as more public figures engage with the crypto market.
Furthermore, as previously reported by BeInCrypto, there is speculation that Trump might use the Trump Gala Dinner to promote a new NFT project.
In summary, the accumulation wave of TRUMP tokens to attend the Trump Gala Dinner shows this meme coin’s strong financial appeal due to its social and political significance. Positive price and trading volume data reinforce investor confidence in TRUMP’s growth potential.
However, the political controversies surrounding the event also introduce significant risks. Investors should remain vigilant, closely monitoring market developments and related legal factors.
The post Crypto Whales Continue to Buy TRUMP Despite Political Controversy appeared first on BeInCrypto.