Pi Network fake news rampant! 423 million tokens flood into the exchange, triggering a panic selling wave.

The Pi Network community is flooded with a large amount of circulating false news, with rumors claiming that the Global Consensus Value (GCV) of Pi Network will be released on November 22, but the Pi core team has never mentioned or acknowledged it. The rumors linking Pi Network with ISO 20022, Stellar, and Ripple are speculative and not official information or technical evidence.

314,159 USD GCV The Absurd Logic of Lies

(Source: X)

In early November, the Pi Network community began spreading news that the Global Consensus Value Index (GCV) will be officially launched on November 22, 2025, with participation from several major financial institutions. This rumor quickly garnered widespread attention. As previously reported by BeInCrypto, supporters of GCV claim that the value of each PI token should be $314,159. This number is derived from the mathematical constant π (approximately equal to 3.14159), which supporters multiplied by 100,000 to arrive at this astronomical figure.

This pricing logic has no economic basis at all. If the PI token is really worth $314,159, with the current total supply of about 65 billion coins, the market cap of Pi Network would reach about 20 quadrillion dollars (20 followed by 16 zeros). This number is thousands of times the total global GDP and hundreds of times the total value of all global assets. This absurd valuation indicates that the supporters of GCV are completely out of touch with economic reality.

The core team of the project has never mentioned or acknowledged the existence of GCV. The Pi Network account on platform X clearly stated: “The Pi core team has neither announced nor acknowledged GCV, nor confirmed the official release date of November 22. Setting a specific date is a hallmark of fake news, aimed at instilling hope in investors and manipulating price expectations.” This official clarification clearly indicates that GCV is entirely speculation from certain individuals in the community, with no official basis.

In August, the Pi core team launched an initiative encouraging the community to report false information. However, many investors still choose to believe information that is favorable to their portfolios, even when this information lacks verification or credible sources. Pi Network added: “Please remember: only what the Pi core team says is true.” This reminder, though simple, is extremely important in an environment filled with fake news.

Technical Flaw in the Integration Rumors of ISO 20022

(Source: X)

The rumor stems from early speculation that Pi Network is developing in line with the ISO 20022 standard and may connect with Stellar (XLM) and Ripple (XRP), linking cryptocurrencies with traditional finance. According to this claim, some pioneers believe that middleware systems will soon allow Pi to connect with traditional institutions, enabling Pi transactions to interoperate with banks.

However, the Pi Network account argues that such claims are unreliable. The assertions regarding the consistency of Pi with ISO 20022 do not come directly from PCT, and most community discussions are favorable interpretations of Pi Network. The idea that a simple middleware can connect Pi and banks is overly simplistic. Research from Stellar shows that this integration is very complex and often requires stablecoin bridges.

X Account Pi Network stated: “As a reference, November 22 is the date when the SWIFT network ceases routing legacy MT messages. This applies only to members of the SWIFT network, which is a private cooperative organization. SWIFT is a messaging network, while Pi is a blockchain - a blockchain transmits value, not messages.” This clarification reveals the technical inaccuracies of the rumors.

Key Flaw of Fake News

GCV 314,159 USD: Absurd pricing based on a mathematical constant, with no economic foundation.

Release Date: November 22: The core team has never confirmed, which is a characteristic of fake news.

ISO 20022 Integration: Unofficial news, the technical complexity has been severely underestimated.

Stellar/Ripple Connection: Pure speculation, with no technical or business collaboration evidence.

SWIFT Misunderstanding: Confusing the fundamental difference between the SWIFT messaging network and blockchain value transfer.

The spreaders of these rumors are often influential pioneers with a large following on platform X. They use their influence to disseminate unverified information, while investors tend to believe what they want to hear. This confirmation bias allows fake news to spread quickly and gain widespread belief.

Exchange supply reaches new highs, reflecting a collapse of confidence

At the same time, the supply of Pi on the exchange has reached an all-time high. In the first week of November, the balance of Pi tokens on exchanges hit a record high of over 423 million PI, which is an increase of more than 13 million PI compared to BeInCrypto's previous report. In just the past 24 hours, more than 2 million PI tokens have been transferred to various exchanges. This large-scale inflow into exchanges is usually a precursor to selling, as the main purpose for investors transferring tokens from personal wallets to exchanges is to sell.

The supply of 423 million tokens on the exchange accounts for a significant proportion of the total circulation of the Pi Network. Assuming that the circulating supply of Pi is about 65 billion tokens (this figure is also not entirely certain as the core team has not fully disclosed it), 423 million tokens represent about 0.65%. Although this ratio may seem low, considering the unique nature of the Pi Network—where most tokens are locked or held by inactive users—the proportion of exchange supply in the actual tradable supply may be much higher than this figure.

The transfer speed of over 2 million in the past 24 hours is particularly concerning. This means that even with the exchange supply already at an all-time high, there is still a significant influx of new supply. This ongoing inflow pressure makes it difficult for prices to rebound, as any buying will be absorbed by new selling. From a market microstructure perspective, when exchange supply continues to increase, it usually indicates that prices will enter a long-term downtrend.

Despite some positive developments—such as the upgrade of the AI-based KYC system and Pi Network Ventures' first investment in OpenMind—many investors are still selling off. Overall market sentiment remains dominated by panic. The AI-KYC system upgrade aims to accelerate user verification speed and reduce fake accounts, which is positive for long-term development. The investment in OpenMind shows that Pi Network is attempting to build practical application scenarios. However, these positive news are completely overshadowed by the fake news uproar and trust crisis.

The Pi Core Team (PCT) has not confirmed or officially released these reports. Instead, these reports are mainly spread by some influential pioneers with a large following, and investors often tend to believe what they want to hear. The deterioration of this information environment is the fundamental reason for the ongoing sell-off. When investors cannot distinguish between real information and fake news, the safest choice is to stay out and observe.

The Long-Term Harm of Fake News Spread on Pi Network

The harm caused by fake news to the Pi Network is multi-layered. First is the trust crisis; when investors are deceived multiple times by false information, they will become skeptical of all information related to the Pi Network, including genuine positive developments. Second is regulatory risk; a large amount of fake news may attract the attention of regulatory agencies, leading them to believe that there is market manipulation within the Pi Network community. Third is community division; the conflict between those who believe in fake news and skeptics may tear the community apart.

More seriously, the proliferation of fake news indicates that Pi Network lacks effective information management and community governance mechanisms. A mature cryptocurrency project should establish the authority of official information channels, quickly clarify rumors, and take action against accounts that maliciously spread false information. Although the Pi core team has initiated a reporting campaign, the results are obviously limited, and fake news continues to spread widely within the community.

For investors, the current situation of Pi Network offers an important lesson: do not trust any community rumors without official confirmation, no matter how many followers the spreaders have. Always verify information through official channels, including Pi Network's official website, official social media accounts, and official announcements. Remain highly cautious of rumors claiming “insider information” or “major good news to be announced soon,” as these are often methods of price manipulation.

When the supply from the exchange continues to hit new highs while the price keeps falling, it is a clear sell signal. Rational investors should wait for the trend of supply growth to reverse, for the storm of fake news to subside, and for the core team to announce substantial positive developments before considering re-entering the market.