Pi Network price rallied over 6% in the past week as anticipation for its upcoming mainnet upgrades spurred demand for the token.

According to data from crypto.news, Pi Network (PI) price rallied from a weekly low of $0.166 to $0.186 on Friday, bringing the token’s total market cap to over $1.89 billion.

Pi Network price rose as investor demand for the token rose ahead of its mainnet upgrade to version 22 or Protocol 22, which will reportedly streamline transaction processing and enhance the network scalability for decentralized applications. This technical leap is a major step toward the Open Mainnet phase that the community has long awaited.

The upgrade also prepares the network for Protocol 23, which is expected in May and would mark the completion of critical security audits and enable cross-chain interoperability for the first time. This transition is seen as the final bridge before the ecosystem opens up to the broader crypto market.

The token’s price has also gained traction as the team prepares for a high-profile appearance at Consensus 2026 in Miami. As per reports, the project’s two co-founders, Nicolas Kokkalis and Chengdiao Fan, will speak at the event with a core focus on Pi’s blockchain infrastructure, digital identity, artificial intelligence, and future application development.

Pi Network price analysis

On the daily chart, Pi Network price has broken above the 3/8 Murrey Math line and therefore signals that the bulls have regained control of the immediate trend.

The Chaikin Money Flow index, which indicates whether capital is flowing into or out of the asset, has also turned positive, confirming that buyers are accumulating at current levels.

Hence, Pi Network price is positioned to rise toward $0.195 next and potentially push past the major psychological resistance at $0.20 if the positive news cycle continues through the week. 

However, if the token loses the $0.170 support, then the bullish momentum would likely fade, leading to a period of consolidation or a retracement toward $0.155.

Tether has launched an open-source Mining Development Kit that collapses Bitcoin mining’s fragmented hardware dashboards into a single JavaScript and React-based stack.

Tether pushes deeper into mining software stack

Stablecoin issuer Tether has launched a new open-source Mining Development Kit (MDK), a full-stack framework designed to give Bitcoin miners unified control over their hardware, power systems and monitoring tools from a single software layer, according to a company announcement.

The MDK rollout on April 27 follows Tether’s earlier decision in February to open-source its MiningOS (MOS) platform, positioning the company as both a major Bitcoin miner and a key software provider for the industry.

Built as a modular framework, MDK lets operators and developers manage everything from small home setups to industrial-scale farms using a JavaScript backend SDK and React-based interface components rather than siloed, proprietary dashboards tied to specific hardware vendors.

MDK targets fragmented mining infrastructure

Tether says MDK is intended to solve what it describes as a fragmentation problem in Bitcoin mining, where fleets often rely on a patchwork of OEM firmware, vendor-specific monitoring suites, legacy GUIs and custom scripts that do not communicate cleanly with each other.

The company’s documentation describes MDK as a “device capabilities + central orchestration” architecture: individual machines, power distribution units, cooling systems and sensors expose standardized capabilities, while a central engine coordinates them through a unified control plane.

MDK is designed to run on Windows, macOS and Linux and is explicitly pitched at both home miners and “gigawatt-scale” industrial operations, reflecting Tether’s claim that the same stack should scale from a handful of ASICs to hundreds of thousands of machines spread across multiple sites.

According to Tether, developers can use the JavaScript SDK to integrate MDK with external services, automation tools or AI-driven agents, while the React component library provides pre-built elements for dashboards, alert panels and configuration views.

In a statement highlighted by industry outlet Techflame, Tether CEO Paolo Ardoino said MDK will offer “infrastructure support for the next generation of Bitcoin mining focused on automation and optimization,” framing the toolkit as a way to standardize and upgrade operational control across the sector.

MDK is also positioned as a companion to MiningOS, which Tether open-sourced in February under an Apache 2.0 license; MOS provides the operating system layer for monitoring and managing mining installations, while MDK offers a programmable development layer on top of that environment.

The launch comes as Tether is already a central player in digital asset markets, with its USDT stablecoin maintaining a market capitalization above $100 billion in recent months, and trading volumes on par with or exceeding those of bitcoin itself on some days, according to market data tracked by sites like CoinGecko.

In a 2025 speech reported by Bitcoin Magazine, Ardoino said Tether had invested more than $2 billion into energy production and Bitcoin mining, and predicted the company could become “the biggest Bitcoin miner in the world, even including all the public companies,” by the end of that year.

He has also framed Bitcoin mining in explicitly energy-centric terms; in a February 2026 post on X, Ardoino described Bitcoin as “energy harvested from the universe,” arguing that mining converts abundant power resources into a scarce digital asset secured by proof-of-work.

Tether’s open-sourcing of MOS and now MDK therefore serves two purposes: reducing its own reliance on proprietary third-party software as it scales out mining operations, and inserting its technology into the wider mining ecosystem as a de facto standard.

Industry publications such as Bitcoin Magazine have noted that MOS uses a self-hosted, peer-to-peer architecture based on Holepunch protocols, allowing miners to manage operations without depending on centralized cloud services or external SaaS platforms.

By pairing MOS with MDK, Tether is effectively trying to occupy both the operating system layer that runs on mining rigs and the orchestration layer that coordinates devices, power, and automation policies across entire fleets.

That combination could make Tether a critical software vendor for miners at the same time as it continues to dominate the stablecoin market through USDT, raising questions about how much influence one company should have over both digital asset liquidity and the physical infrastructure securing Bitcoin.

Automation, AI and centralization concerns

However, as highlighted by energy and mining analysts quoted in recent coverage of Tether’s push into this space, the creation of a widely adopted, unified orchestration layer for mining infrastructure also concentrates technical risk: a bug, exploit or misconfiguration in MDK-based systems might impact multiple operators at once if they standardize on the same stack.

At the same time, if MDK and MOS gain significant traction, Tether would gain visibility into, and indirect influence over, how large segments of global hash power are monitored and optimized, even if miners run the software on their own infrastructure and retain operational control.

That possibility is especially sensitive given Tether’s scale in the stablecoin market and its growing role in cross-border dollar liquidity, as documented in numerous regulatory and market reports covered by outlets including the Financial Times and Bloomberg.

Ardoino and Tether have argued in previous public comments that their mining and infrastructure investments are driven by a desire to reinforce Bitcoin’s security model and energy footprint rather than simply chase yield, but the MDK launch underscores how tightly the company is now tying its future to the physical underpinnings of the Bitcoin network.

For miners, the calculus will be straightforward and unforgiving: if MDK and MOS deliver more efficient operations, better integration with power markets and a faster path to automation, adoption will likely follow, even as debates over concentration of power and software risk intensify across the Bitcoin ecosystem.

The Block taps ex‑Azuki COO Steve Chung as CEO and takes another $10M from Foresight Ventures, doubling down on an institutional data, research, and AI‑driven media pivot.

The Block’s decision to install former Azuki COO Steve Chung as CEO, backed by an extra $10 million from Foresight Ventures, is a clear signal: crypto media is going fully institutional, with AI and TradFi squarely in the frame. It is a sharp pivot from surviving crypto winters and ownership scandals to competing head‑on with Bloomberg‑style data and research platforms for hedge funds, banks, and asset managers.

Chung steps into the role after a career that runs directly through Wall Street, legacy media, and Web3 IP.

He started at Goldman Sachs in New York, moved on to become Chief Growth Officer at Fox Corporation and Chief Digital Officer at Fox Television Stations, served as CEO of CJ ENM America, and most recently ran operations at Azuki, a blue‑chip NFT brand built around anime‑style decentralized IP. That mix of capital markets, media distribution, and crypto culture is exactly what The Block’s owners appear to be buying.

Larry Cermak, who became CEO in 2023 after Foresight Ventures acquired roughly 80% of The Block in a $60 million deal, will slide into a President role focused on research, data, and product rather than day‑to‑day operations. “Steve is the right operator to take The Block from category leader to global market leader,” Cermak said in the official release, framing the move as a scale‑up moment rather than a handover forced by stress.

Foresight’s new $10 million injection, announced alongside the hire, is meant to fund exactly that scale‑up.

Since 2022, the Singapore‑based firm has been deploying successive $10 million accelerators and strategic investments across Web3 infrastructure, AI, and Bitcoin Ordinals, and media is part of the stack: The Block is supposed to be the distribution and data layer that institutional LPs and portfolio companies lean on for market intelligence. PR copy is explicit about where this goes: using the fresh capital to “scale institutional research and data offerings, expand its enterprise business, and deepen its role as a critical information and data provider within the global digital asset ecosystem.”

On X, sentiment over the past day has been cautious but curious rather than euphoric.

Foresight‑aligned news account @WuBlockchain summarized the move in Chinese, emphasizing that Chung “曾任Fox、CJ ENM America 等公司高管，并担任NFT 项目Azuki COO,” and highlighting that Cermak will stay on to lead research and product, which calmed some concerns about editorial continuity. Another industry account amplified the PR line that The Block will now sit “at the intersection of crypto, finance, and AI,” positioning Chung as the operator who understands all three cultures. Binance’s @BinanceSquare news feed echoed Foresight’s framing, calling the move a push to “accelerate institutional expansion” rather than a simple leadership reshuffle.

The deeper question is what kind of media product emerges when a crypto‑native newsroom becomes a line item on a venture portfolio whose strategy is explicitly geared toward institutional monetization.

Foresight already controls the cap table and is now writing another $10 million check; Chung’s mandate is to build a global enterprise business on top of that. That almost certainly means more paywalled research, richer datasets, and bespoke products for funds and corporates—and less emphasis on chasing retail clicks. From a market‑structure point of view, that’s rational: crypto is institutionalizing, the big fees sit with professional clients, and the most valuable content is data‑driven, time‑sensitive research, not explainers.

But it also raises familiar concerns about independence and conflict of interest.

The Block is still working through reputational scars from its earlier exposure to Alameda/FTX money, which led to a change of ownership and Cermak’s initial appointment as CEO. Now, with a single venture firm doubling down financially and strategically, critics on X are already asking whether coverage of Foresight portfolio companies and themes—like AI‑crypto convergence or specific accelerator projects—can stay arm’s‑length. The fact that Cermak remains in charge of research and product is widely seen as a partial safeguard, but institutional clients will likely demand stricter governance around disclosures and firewalls than retail readers ever did.

From Chung’s side, his track record suggests he will lean into IP, brand, and distribution as much as data.

At Fox and CJ ENM America, his remit was to build digital businesses and global reach across traditional and streaming channels. At Azuki, he worked at the frontier of NFT‑based media franchises and decentralized IP, where community and liquidity matter as much as content. Bringing that playbook to The Block means you can expect more cross‑format output—video, events, B2B education—designed around institutional buyers but powered by crypto‑native culture. It is the media equivalent of moving IP on‑chain: trying to wrap research, data, and brand into a single, leverageable asset.

In the short term, the move is a bet that there is room for at least one fully crypto‑native “Bloomberg for digital assets,” and that the window to build it is now, before banks and legacy data vendors completely capture the category.

If Chung executes, The Block could become the default terminal for funds trading liquid tokens, stablecoins, and eventually tokenized real‑world assets. If he does not, the platform risks being squeezed between free on‑chain data dashboards and heavyweight incumbents who are already feeding crypto price and derivatives data into existing terminals. Either way, the appointment and the $10 million check confirm what the market already knows: crypto media is no longer just about news; it is infrastructure.

Maple Finance announced Monday that its cross-chain bridge has processed over $7 billion in total volume. The milestone reflects increased adoption of Maple’s dollar yield assets moving across multiple blockchain ecosystems, demonstrating demand for yield-bearing dollar products beyond single-chain deployments.

The announcement underscores the broader trend of DeFi users seeking yield opportunities on stablecoin assets across fragmented blockchain networks. Maple’s bridge infrastructure enables users to access its fixed-income products on different chains, reducing friction in cross-chain asset movement.

Sources: Maple Finance

This article was generated automatically by The Defiant’s AI news system from publicly available sources.

Bitmine Immersion Technologies (BMNR), the ether (ETH) treasury firm helmed by Chairman Thomas “Tom” Lee, bought 101,901 ETH through last week, pushing its total holdings above 5 million tokens of the second-largest cryptocurrency.

The purchase lifted the firm’s ETH treasury to 5,078,386 tokens, or about 4.21% of ether’s circulating supply, according to a Monday update. Bitmine reached that milestone in roughly 10 months, since it pivoted to a digital asset treasury strategy company from a bitcoin miner in June.

“Bitmine ETH holdings crossed 5 million this past week,” Lee said. “This is a major milestone as the company moves towards acquiring 5% of the ETH supply.”

The latest purchase, worth roughly $236 million at current ETH prices, extends a streak of larger weekly purchases as Bitmine adds to its position while most digital asset treasuries remain on the sidelines.

The firm’s total crypto and cash holdings stand at $13.3 billion. Alongside its ETH position, the firm holds 200 bitcoin BTC$77,767.46, $940 million in cash and equity stakes including investments in Beast Industries and Worldcoin-focused Eightco Holdings.

The company has also expanded its staking operations to generate yield on its ETH stash. About 3.7 million tokens — roughly 73% of its holdings — are now staked, generating around $264 million in annualized revenue. The firm debuted its Mavan staking platform in March to attract institutional clients alongside supporting its own treasury operations.

BMNR shares were unchanged in pre-market trading following the update.

Ether as ‘wartime store of value’

Lee framed ether’s role as shifting beyond a speculative asset. Citing recent research by Etherealize, he said ETH is increasingly being treated as a “store of value” and collateral as digital assets gain traction in financial transactions.

He also added that ETH has outperformed the S&P 500 since the start of the Iran conflict and pointed to growing use cases such as tokenization and AI systems relying on public blockchains as a long-term tailwind for the asset.

“There is a lot of meaning to ETH being the best ‘war-time store of value’ and to ETH being the asset leading since the war started,” said Lee.