
Bitcoin Slumps Again to $74K as Bearish Market Structure Intensifies
Bitcoin's price drops to $74K as bearish market trends intensify.

Dr. Chengdiao Fan, co-founder of Pi Network, spoke at Consensus 2026 in Miami, discussing the alignment of Web3, AI, and blockchain. She highlighted challenges in the cryptocurrency industry regarding token design and innovation.
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Alongside over 500 speakers, many of whom are high-profile names like CZ, Michael Saylor, Brad Garlinghouse, and a few senators, one of Pi Network’s co-founders, Dr. Chengdiao Fan, spoke yesterday at Consensus 2026 in Miami.
Meanwhile, the other project co-founder is scheduled to appear on stage today.
The blog post from the official X account behind Pi Network sheds more light on Dr. Fan’s speech to those who didn’t attend it or can’t wait for the entire video to be released. In the session titled ‘Aligning Web3, AI, and Blockchain for Utility,’ she spoke about Pi Network’s infrastructure, identity verification, and globally engaged network, which can support “utility-driven products and businesses in the AI era.”
Dr. Fan expanded on one of the largest challenges in the cryptocurrency industry: the frequent misalignment between token design and real innovation. This is a topic which the team behind the protocol has explored in the past, claiming that many industry participants have used token launches mostly to raise capital or quick exits.
In contrast, Pi Network’s approach treats tokens as tools “that can support growth, engagement, and long-term utility.”
“Pi’s approach to ecosystem tokens and launch mechanisms focuses on tokens for user acquisition and integrating token design into the product innovation process. By using tokens to help products acquire real users who can engage, provide feedback, and use those tokens within actual product experiences, this approach connects token design more directly to utility and product development.”
Overall, her talk focused on how blockchain can help shape the AI-era business models, financial literacy, ownership, and socioeconomic participation.
May 7, which will be the conference’s last day, will also see participation from a Pi Network co-founder. Nicolas Kokkalis is scheduled to join a panel between 10:15 and 10:45 AM EDT at the Covergence Stage, titled ‘How to prove you’re human in an AI world (without doxing yourself).’
As the name suggests, all participants will engage in further talks about how the Internet’s trust model is breaking with the rapid growth of AI systems that are becoming more and more capable of creating bots that can generate profiles and interact like real users.
Dr. Chengdiao Fan discussed the alignment of Web3, AI, and blockchain, focusing on Pi Network's infrastructure and identity verification.
Notable speakers at Consensus 2026 include CZ, Michael Saylor, Brad Garlinghouse, and several senators.
Dr. Fan addressed the misalignment between token design and real innovation, highlighting issues with capital-raising and quick exits in the industry.

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