Pi Token Plummets Despite $100M Fund Launch

The native cryptocurrency of Pi Network, PI, experienced a sharp decline of over 32% in the past 24 hours. As of press time, PI traded at $0.8768. This drop occurred despite news of a major fund launch from the Pi Foundation – a $100 million venture fund intended to support startups that develop real-world applications and boost PI adoption. The fund will target companies working in areas like generative AI, gaming, fintech, e-commerce, social media, and blockchain, similar to how Silicon Valley VC firms operate.