Pi Network Coin Funding
Rumors about Pi Network, a mobile cryptocurrency mining project, receiving $15 billion in funding have been circulating on social media. Screenshots showing business descriptions associated with Pi Network have fueled these claims, but what are the facts?
Pi Network Funding Rumored to be $15.1 Billion. Source: @Pi_Coins Tracxn Scan: Rumor Source
The rumor appears to have originated from Tracxn Scan, a platform that tracks business trends around the world. However, after reviewing Tracxnâs website, there are no official records or data confirming this major investment.
At this point, there is no verified information about Pi Network receiving $15 billion, and the screenshots shared are still unverified.
Pi Network Investors: Designer Fund, 137 Ventures, and Ulu Ventures
Pi Network has received financial backing from Designer Fund, 137 Ventures, and Ulu Ventures. While exact funding figures were not disclosed, these investors are known for backing emerging projects. Their involvement has raised Pi Networkâs profile in the cryptocurrency space.
Undisclosed Investments by 3 Big Funds in Pi Network. Source: @Pi_OM_2024
However, there has been no official statement regarding the amount of funds provided.
Pi Mainnet Launch: Key Details
The Pi Network mainnet launch is scheduled for late 2024. This phase will transform Pi from its current testnet to a full blockchain deployment. Until the mainnet launch, users who have mined Pi coins will not be able to trade or withdraw them.
Pi Network Open Network Partnership Announcement. Source: @PiCoreTeam
Once the mainnet is live, users will gain access to their public and private keys, allowing them to transfer and spend their Pi coins on the peer-to-peer marketplace. Thus, Pi Network marks the transition out of the closed network phase, allowing the native crypto PI to function as a cryptocurrency for the first time.
