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Pi Network (PI) Founders Answer Hot Questions: Are Pioneers Happy?

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Pi Network (PI) Founders Answer Hot Questions: Are Pioneers Happy?


Pi Network’s co-founder Nicolas Kokkalis asserted that KYC and migration remain a top priority.

Earlier this month, Pi Network celebrated the first anniversary of its Open Network launch.

To mark the milestone, the co-founders of the controversial crypto project answered a series of questions to offer users more insight into Pi’s future strategy, approach, and current work.

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KYC And More

The co-founders, Chengdiao Fan and Nicolas Kokkalis, started by praising the “incredible advances” in Pi Network’s activity, app development initiatives, and platform-level utility releases over the past year. Fan asserted that in the next 12 months, the team will focus on expanding its ecosystem by creating additional opportunities for users.

Then they moved to the first question: what makes Pi Network different from other blockchains, and why does utility matter? Fan described Pi as “nonconformist,” emphasizing that it sets itself apart in several fundamental ways. She highlighted that the project has never conducted an ICO, is built on a mobile-first approach, is free to mine, and has already amassed tens of millions of verified users worldwide.

From there, the discussion shifted toward Pi Network’s emphasis on real-world utility. Fan explained that Pi’s vision has always centered on enabling tokens to participate in genuine economic activity rather than relying solely on abstract financial mechanisms. In her view, this approach is reinforced by Pi’s fully KYC-verified user base, which the team considers essential for supporting real-world assets and meaningful value creation across the ecosystem.

The next question, “What is the network working on now?” was answered by Kokkalis. He asserted that KYC and migration remain a top priority, adding that the team has started increasing KYC throughput, unblocking more users, boosting speed, and allowing second migrations.

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“We are also on track to roll out KYC validator rewards this quarter in a secure and scalable way. In terms of Developer tools and support, we’re supporting developers, lowering the barrier to building on Pi through improved tooling and simpler integrations, including new tools like much faster Pi payment setups, along with ongoing support to help developers launch and scale real utilities,” he added.

Moreover, Kokkalis said the team will continue working on Nodes, protocol upgrades, and components like DEX functionality and liqduity pools.

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Perhaps the most important question intriguing a large part of the community is the significance of the Know-Your-Customer process and what comes next. Kokkalis said the team has spent years building its KYC solution, explaining that because Pioneers are spread across the globe, the system needed to achieve broad geographic coverage and scalability.

The co-founder added that the heavy investment in the function was intentional, as identity verification is important to the integrity and authenticity of the entire network. Looking ahead, he noted that the team intends to offer its KYC technology as a service to external projects, thus turning it into a capability that could support Web3 and traditional businesses.

PI Tokens and AI

Another question for the founders focused on clarifying what Pi ecosystem tokens actually are. Fan explained that those are coins created by the community and issued on Pi.

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“As many of you know, ecosystem tokens have already been released on Testnet, and we are finalizing their implementation on Mainnet. While technology and product are obviously important, we believe the most critical factor on Mainnet will be their design,” she added.

Fan believes that the ability to issue tokens is an “important superpower” of Web3, yet she thinks many coins in the crypto space are designed with no real-world use.

The last question focused on the fast-evolving Artificial Intelligence sector and how Pi Network plans to integrate that technology. Fan explained that AI is reshaping how value is created, making it essential for blockchain networks to support real-world production rather than rely on speculation. She stated that Pi’s strategy is to build AI-powered apps using tools such as Pi App Studio.

Are Pioneers Satisfied?

Judging by the comments under Pi Network’s anniversary announcement, plenty of users continue to struggle with major issues and urged the team to act more urgently.

Some Pioneers claimed they’ve been waiting for five-six years to complete the necessary verification steps and migrate to the mainnet, yet still haven’t been able to do so. Others went even further, calling Pi Network “a dirty scam project.”

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Bitcoin ETF inflows hit highest level since February

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ProShares introduces first CoinDesk 20 Crypto ETF under ticker KRYP

Bitcoin traded around $68,780 on Tuesday as U.S. spot bitcoin ETFs posted their strongest daily inflow in more than a month.

Funds added a combined $471 million on April 6, according to SoSoValue data, marking the largest inflow since Feb. 25 and the sixth-biggest daily total this year. The figure remains below January’s peak flow regime, when multiple trading days topped $700 million.

These high inflows come as bitcoin continues to stall below $70,000, with weak spot demand and distribution by large holders capping upside. ETFs have increasingly offset that pressure, acting as a primary source of marginal buying.

Macro signals offer limited direction. Markets are pricing a 98% probability that the Federal Reserve will hold rates steady at its April meeting, according to Polymarket data, with minimal expectations for near-term cuts or hikes.

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Bitcoin’s relationship with global monetary policy may be shifting, with ETFs changing not just the scale of demand but its timing.

A recent Binance Research report finds bitcoin’s correlation with its Global Easing Breadth Index, which tracks 41 central banks, has turned sharply negative since 2024, the same year U.S. spot ETFs were approved. Before then, bitcoin tended to follow easing cycles with a lag. That relationship has now flipped, with the inverse effect nearly three times stronger.

The shift reflects who sets the marginal price. Retail once reacted to macro after the fact. ETF-driven institutional flows are more forward-looking, positioning ahead of expected policy moves.

“BTC may have evolved from a macro ‘lagging receiver’ to a ‘leading pricer,’” Binance Research wrote.

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ETF inflows continue to absorb supply and anchor prices, which could explain the continued daily inflow.

If what Binance Research proposes holds, bitcoin may keep trading as a forward-looking asset, pricing in central bank pivots before traditional markets rather than reacting to them after the fact.

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US Bankruptcy Filings Spike 14% in Q1 2026: What’s Driving the Surge

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Total US bankruptcy filings climbed 14% in the first quarter of 2026, reaching 150,009 cases between January and March, up from 132,094 during the same period last year.

The increase spans consumer and commercial categories alike, according to data from Epiq AACER published by the American Bankruptcy Institute (ABI).

US Bankruptcy Filings Surge As Inflation Takes Its Toll

Small business filings showed the most dramatic acceleration. Subchapter V elections surged 67% to 833 from 499 a year earlier. Commercial Chapter 11 filings also rose 37%, climbing from 1,764 to 2,422.

Consumer filings told a similar story. Individual Chapter 7 cases increased 17% to 89,259. Chapter 13 filings rose 8% to 51,962. Total consumer filings reached 141,573. But what’s behind the rise? 

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“Persistent inflation, high interest rates, restricted credit, and global instability continue to compound the economic challenges of struggling families and small businesses,” ABI Executive Director Amy Quackenboss stated.

The Federal Reserve Bank of New York’s latest report on household finances underlines the pressure. Household debt hit $18.8 trillion by the end of Q4 2025. Credit card balances reached $1.28 trillion, with notable deterioration in mortgage and student loan arrears as well.

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Legislative Response and Outlook

Congress is weighing measures to ease access to bankruptcy protection. Legislation introduced recently by Senator Chuck Grassley in the Senate and Representative Ben Cline would permanently raise the small business reorganization threshold for Chapter 11 to $7.5 million. It would also lift the Chapter 13 debt ceiling to $2.75 million.

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However, relief may not come quickly. The IMF has projected that US inflation will not return to the Fed’s 2% target until early 2027, suggesting elevated borrowing costs will persist well into next year.

Meanwhile, the US national debt recently surpassed $39 trillion, adding further strain to an already stretched fiscal environment. Whether legislative action can keep pace with growing financial distress remains an open question heading into Q2.

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The post US Bankruptcy Filings Spike 14% in Q1 2026: What’s Driving the Surge appeared first on BeInCrypto.

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XRP slips to $1.31 after failed breakout as liquidity dries up

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XRP slips to $1.31 after failed breakout as liquidity dries up


Rejection at $1.35 and collapsing depth raise risk of sharper moves as positioning builds.

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Indonesian Authorities Used Crypto Data to Convict Criminals

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Indonesian Authorities Used Crypto Data to Convict Criminals

Onchain evidence was key to securing the conviction of three individuals for terrorism financing in Indonesia in 2024 and 2025, reflecting a clear shift in the way courts value onchain evidence.

“Indonesian courts have demonstrated that cryptocurrency evidence — wallet addresses, transaction histories, on-chain flows — is not only admissible but can anchor a terrorism financing prosecution,” TRM said in a statement Sunday.

TRM said terrorism financing networks have preferred cryptocurrency as a mechanism of choice to move money, as authorities and regulators have been slow to treat it with the same level of scrutiny as traditional fiat channels, but noted that this is now changing. 

Indonesian authorities traced one defendant sending more than $49,000 worth of USDt (USDT) across 15 transactions from a local exchange to a foreign platform, with the funds later routed to an ISIS-linked terrorism fundraising campaign in Syria, according to the blockchain firm. 

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Indonesia’s financial intelligence team and its counterterrorism police unit, Densus 88, carried out the analysis and presented the findings to Indonesian courts, which accepted the blockchain data as key evidence in each of the three cases.

Source: TRM Labs

Indonesia is not the only country in Southeast Asia using blockchain analytics to catch criminals, TRM said.

“Similar patterns are emerging across Southeast Asia, where governments are investing in blockchain intelligence capabilities and enhancing collaboration between public and private sectors to address illicit finance risks.”

TRM Labs said that Singapore and Malaysia’s financial intelligence units and law enforcement agencies are also building the technical capacity to trace cryptocurrency flows.

Related: Drift Protocol says $280M exploit took ‘months of deliberate preparation’ 

On April 1, Cambodian and Chinese officials captured Li Xiong, a leader of the Huione Group, an organization that served scam centers in Cambodia that carried out “pig butchering” frauds and other investment schemes to steal crypto from victims around the world. 

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Xiong was extradited to China, where he is set to face fraud and money-laundering charges. 

His extradition came three months after the arrest of Chen Zhi, the head of Prince Group, which operates Huione Group.

TRM reported in February that illicit entities received about $141 billion worth of stablecoins in 2025, marking a five-year high.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?

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