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What Is Pi Network? Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for widespread accessibility and real-world utility. It enables users to mine and transact Pi using a mobile-friendly interface while supporting applications built within its blockchain ecosystem.  Supply Model and Mining Mechanism The Maximum Supply of Pi is 100 billion tokens. The Maximum Supply is comprised of the following: 65 Billion tokens (or 65%) are allocated for all community mining rewards; 10 billion (10%) are allocated for foundation reserves; 5 billion (5%) are allocated for liquidity purposes; and 20 billion (20%) are allocated for the Core Team. Each allocation mentioned above tracks the community Migrated Mining Rewards issuance pace, so the proportions of each allocation in the total supply remains the same at any given time.   The Effective Total Supply of Pi—the total Pi supply at the current time—allocates Pi proportionally the same as the Maximum Supply. Since every allocation tracks the Migrated Mining Rewards of the community, the Effective Total Supply can be calculated by dividing the current Migrated Mining Rewards of Pi on the Mainnet blockchain by 65%. The other allocations within the Effective Total Supply can then be calculated based on the same proportions as the Maximum Supply, e.g. at most 10% of the Effective Total Supply is available in the foundation reserve, 5% of the Effective Total Supply is available for liquidity purposes, and 20% of the Effective Total Supply is available for the Core Team. This remains true despite the fact that all tokens were minted at the genesis as technically required by the blockchain protocol.  Circulating Supply includes all Migrated Mining Rewards and all tokens that entered circulation from other buckets of the allocations, which at its maximum could be summed up to equal the Effective Total Supply.   Pi’s mining rewards are distributed based on an issuance formula that follows a declining exponential model defined in the Pi whitepaper. Users can increase the amount of mining rewards they receive based on their individual contributions to the network, like Security Circles, using utility-based Pi apps, running Nodes, etc. For each month, the amount of Pi to be distributed as mobile balance is capped and determined by the model, regardless of how many people or how many types of mining rewards there are during the month. The capping is achieved by the design of a system-wide base mining rate, and each type of mining rewards to each individual are just a multiplier of this base mining rate. As the monthly supplies always diminish, the base mining rate generally decreases over time.   Fewer Pi may also be issued because the real Pi issuance on the blockchain depends on Pioneers passing KYC and completing all steps required for migration to the Mainnet. Despite all efforts to facilitate and remind Pioneers to complete those required steps, there are always dropoffs along the way, resulting in less than all outstanding mobile balances to be issued on the blockchain. Because of this mechanism, the community issued amount (Migrated Mining Rewards) on the blockchain will likely be closer and closer to a line lower than the 65 billion. This is thus the reason for the variable Effective Total Supply which incorporates this effect. Effective Total Supply results from all Migrated Mining Rewards divided by 65%, as opposed to the Maximum Supply of 100 billion.  Ecosystem and Adoption Pi Network has built an integrated ecosystem that facilitates real-world transactions and decentralized applications. Pi can be used as a medium of exchange for goods and services, including online commerce and local brick-and-mortar businesses.  Users can engage with Core Team and community-built apps in the Pi ecosystem through the Pi Browser, where integrated features like the Pi Wallet provide a seamless experience. Events like PiFest 2024 showcased Pi’s growing adoption, with over 27,000 active sellers and 28,000 test merchants across 160 countries.  Who Are the Founders of Pi Network? Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both of whom have PhDs from Stanford University and a passion for improving human lives through technology.  Dr. Nicolas Kokkalis is a Stanford PhD in EE and postdoc in CS with research on distributed systems and human-computer interaction. His work focuses on combining distributed systems and human computer interaction to bring cryptocurrency to everyday people. As a strong and long-term believer of the technical, financial and social potential of cryptocurrencies, he is determined to move them beyond their current limitations and is committed to bringing the power of blockchain to more people.  Dr. Chengdiao Fan holds a Stanford PhD in Anthropological Sciences, harnessing social computing to unlock human potential on a global scale. Chengdiao is building Pi Network to mobilize individuals all over the world to participate and be rewarded for their contributions, and establish an inclusive ecosystem for global citizens to unleash and capture their own agency, and in turn create utilities and productions for society and the world.  Compliance and Identity Verification Pi Network follows a one-account-per-person policy through its Know Your Customer (KYC) solution. This system combines machine automation and human verification to authenticate user identities while preserving privacy.  The KYC process emphasizes real individuals, combats fraudulent activities and enables fair participation in the mining process of the network. Pi’s identity verification approach balances scalability, security, and accessibility, allowing millions of users worldwide to validate their accounts while maintaining regulatory compliance.

Pi Network

Pi Network is trending amidst intense community debate over its persistent closed mainnet, unresolved KYC and token migration challenges, and the continued absence of major exchange listings. This situation creates a stark divide between long-term holders envisioning future utility and frustrated users questioning its real-world tradability.

VanEck ETF Trust - VanEck Oil Services ETF

VanEck Oil Services ETF

OIH is trending as escalating geopolitical tensions across the Middle East and Gulf hurricane activity are pushing crude prices higher, yet the ETF's performance has remained notably lagging. The community is actively discussing whether OIH's exposure to affected regions or a general market skepticism about oil services is causing this disconnect, with many anticipating a significant rebound for the oversold sector.

ETF Series Solutions Trust - ESS U.S.Global Jets ETF

US Global Jets ETF

The US Global Jets ETF (JETS) is trending due to heightened Middle East tensions causing volatile oil prices and widespread flight disruptions, prompting a split in community sentiment between those anticipating a rebound if oil prices normalize and others bracing for continued pressure on the airline sector.

Aeluma, Inc. engages in developing semiconductors for sensing, communication, and computing applications. The firm is also involved in manufacturing devices using compound semiconductor materials on large-diameter substrates that are commonly used to manufacture mass market microelectronics. The company was founded by Jonathan Klamkin and Lee McCarthy on February 28, 2019 and is headquartered in Goleta, CA.

Aeluma Inc

Aeluma is trending as it moves toward commercialization with initial sales orders and increasing customer engagement for its III-V-on-silicon photonics technology, critical for AI data centers, mobile, and defense. The community actively discusses significant insider stock sales by a major early investor, viewing it as either a strategic pivot or a point of caution, while highlighting the company's unique technological moat.

Roundhill ETF Trust - Roundhill MSTR WeeklyPay ETF

Roundhill MSTR WeeklyPay ETF

The Roundhill MSTR WeeklyPay ETF ($MSTW) is trending as its attractive weekly dividend distributions draw investor attention. The community is actively discussing its leveraged exposure to MicroStrategy and Bitcoin, navigating extreme volatility and the underlying crypto market movements.

Investment Managers Series Trust II - Tradr 2X Long IREN Daily ETF

Tradr 2X Long IREN Daily ETF

IREX, the 2x leveraged ETF for IREN, is trending as traders debate its extreme volatility and perceived inconsistent tracking relative to IREN, a key player in the high-growth AI, crypto, and data center sectors. Community members are actively buying dips while also expressing frustration over its price action.

ETF Opportunities Trust - T-Rex 2X Long HOOD Daily Target ETF

T-Rex 2X Long HOOD Daily Target ETF

T-Rex 2X Long HOOD Daily Target ETF ($ROBN) is trending as the community actively discusses Robinhood's strong financial performance, anticipated positive earnings, and recent S&P 500 inclusion, leveraging the 2x ETF for potential amplified returns.

Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA

Melania Trump

MELANIA CRYPTO is trending as the community actively debates its legitimacy, with many criticizing it as a "shitcoin" or "pump and dump" following significant price declines, often linking it to other Trump-affiliated tokens. Upcoming discussions around a documentary featuring Melania Trump are further fueling polarized speculation on the coin's prospects.

Direxion Shares ETF Trust - Direxion Daily Gold Miners Index Bull 2X Shares

Direxion Daily Gold Miners Index Bull 2X Shares

NUGT, a leveraged gold miners ETF, is a focal point of discussion as gold experiences significant volatility driven by geopolitical tensions, central bank buying, and global economic uncertainties, leading to a split in community sentiment between continued bullish expectations and calls for a market correction.

SLB Ltd. engages in the provision of energy technology. It operates through the following business segments: Digital, Reservoir Performance, Well Construction, Production Systems, and All Other. The Digital segment involves the combination of digital solutions and data products with its Asset Performance Solutions. The Reservoir Performance segment consists of technologies and services for productivity and performance optimization. The Well Construction segment includes the full portfolio of products and services for well placement and performance, drilling, and wellbore assurance. The Production Systems segment focuses on the development of technologies and provides services to production and recovery from subsurface reservoirs to the surface, into pipelines, and refineries. The company was founded by Conrad Schlumberger and Marcel Schlumberger in 1926 and is headquartered in Houston, TX.

SLB Ltd.

Schlumberger Ltd.

SLB is trending as escalating Middle East tensions coincide with ongoing speculation about its key role in the potential rebuild of Venezuela's substantial oil infrastructure. The community is actively debating if the oilfield services giant, bolstered by recent contract wins and AI-driven growth, is an undervalued play in a sector poised for a significant rebound.

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China, Emerging Markets Stabilizing? 3 Global Luxury Stocks for 2026

Luxury demand may rebound in 2026 as China stabilizes and emerging markets return, lifting Kering, Richemont and Burberry after a flat 2025.

Is Kering (PPRUY) Outperforming Other Retail-Wholesale Stocks This Year?

Here is how Kering SA (PPRUY) and Zumiez (ZUMZ) have performed compared to their sector so far this year.

Gucci owner Kering SA’s stock rallied nearly 5% in early trading on the Euronext Paris on Monday, hours after the luxury goods giant announced the sale of its beauty division to L’Oreal SA for 4 billion euros ($4.7 billion). Kering’s shares in the U.S.&nbsp;are likely to garner attention when the market opens for the new week.The move comes as the first major step under Luca de Meo, who took over as the luxury group’s CEO last month, to tackle its high debt and refocus on the core fashion business.<h2 class="st-heading-2">Long-term Tie-Up</h2> Under the deal, L'Oreal will acquire Kering's fragrance brand Creed, as well as the rights to develop fragrance and beauty products under Kering's fashion labels Gucci, Bottega Veneta and Balenciaga under a 50-year exclusive license. The licence for Gucci fragrances is currently held by Coty, and L'Oreal’s license is expected to commence likely in 2028.Kering bought Creed for 3.5 billion euros in 2023, although it struggled to ramp it up. At the time, it was seen as a bold move by the then CEO Francois-Henri Pinault to diversity the company’s business beyond fashion apparel and accessories.<h2 class="st-heading-2">Effort To Trim High Debt</h2> The divestiture comes as Kering battles declining growth at its largest brand, Gucci, partly due to a slowdown in the luxury and beauty markets in China, and deteriorating luxury sale trends globally. Kering has also issued a number of profit warnings over the past year.<h2 class="st-heading-2">How Do Analysts And Retail Traders Feel?</h2> Last week, Berenberg&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/lvmh-kering-downgraded-by-berenberg-as-luxury-super-cycle-is-over/ch6YynBR3VC">downgraded</a> Kering’s stock to ‘Sell’ from ‘Hold,’ and warned that "after three decades, the luxury super cycle is over." It forecast 2% to 3% annual growth for the luxury goods industry, below the historic 6%.On Stocktwits, the retail sentiment for&nbsp;<a href="https://stocktwits.com/symbol/PPRUY">PPRUY</a> shifted to ‘neutral’ as of early Monday, from ‘bullish’ the prior day. The stock is up 48% year-to-date.Kering’s mulit-step deal with L’Oreal is expected to close in the first half of 2026.For updates and corrections, email newsroom[at]stocktwits[dot]com.

Pedestrians pass a store of Italian luxury brand Gucci in Shanghai, China, on February 4, 2025. (Photo by Costfoto/NurPhoto via Getty Images)

Gucci Owner Kering’s Stock In Focus After $4.7B Deal To Sell Beauty Unit To L’Oreal SA

The move comes as the first major step under new CEO Luca de Meo to tackle the company’s high debt and reinstate the focus on the core fashion business.

Equity

The move comes as the first major step under new CEO Luca de Meo to tackle the company’s high debt and reinstate the focus on the core fashion business.


Berenberg downgraded stocks of LVMH Moet Hennessy Louis Vuitton SE and Gucci owner Kering SA, two of the world's largest luxury product companies, and gave a dire outlook for the sector broadly."After three decades, the luxury super cycle is over," the investment research firm said in a note, according to the summary on The Fly. The firm believes demand for luxury will grow at only 2%-3% annually in the medium term, below the historical norm of 6%.Constraints on aspirational consumers are more severe than initially modeled, according to the brokerage.Berenberg downgraded LVMH's Paris share to 'Hold' from 'Buy,' with a price target of 570 euros. That's about 5% below the stock's last close.The analyst downgraded Kering's stock rating to 'Sell' from 'Hold.' It set a 160-euro price target, which is half of the stock's last close level.Although luxury goods are typically resilient to economic headwinds, the U.S. tariffs have launched a cascading effect on economies around the world, and even the most affluent of shoppers are keeping their purse strings tight. Those who are a step below are clearly holding off on luxury purchases.&nbsp;&nbsp;On Stocktwits, the retail sentiment was 'bullish' for <a href="https://stocktwits.com/symbol/LVMUY">LVMH's U.S. shares</a> and 'neutral' for <a href="https://stocktwits.com/symbol/PPRUY">Kering's U.S. shares</a> as of early Thursday.For updates and corrections, email newsroom[at]stocktwits[dot]com.Read Next: <a href="https://stocktwits.com/news-articles/markets/equity/nestle-to-cut-nearly-6-roles-to-save-costs-retail-mood-bearish/ch6YHwlR3Vp">Nestle To Cut Nearly 6% Roles To Save Costs: Retail Mood Bearish</a>

Louis Vuitton logo is seen on the store at the Galleria Vittorio Emanuele II in Milan in Milan, Italy on March 2, 2025.

LVMH, Kering Downgraded By Berenberg As 'Luxury Super Cycle Is Over' — Retail Traders Have Mixed Feelings

Demand for luxury will grow at only 2%-3% annually in the medium term, below the historical norm of 6%, the investment research firm believes.

Kering Q2 revenue falls 18% due to weak retail, wholesale sales and tourism slump

Investing.com -- On Tuesday, Kering reported a sharp 18% year-on-year decline in second-quarter revenue to €3.7 billion, slightly below the €3.96 billion consensus estimate from LSEG analysts. 

Qatar fund denies report that it is exploring Valentino sale with Kering

Investing.com -- The head of Qatar-backed Mayhoola dismissed reports on Friday suggesting the fund and  Kering  (EPA:PRTP) were exploring a sale of their jointly owned fashion label Valentino.

European stocks edge higher; trade negotiations remain in focus

French luxury group Kering SA (PPRUY) has named Luca de Meo its next chief executive officer, tapping the top leader of Renault SA (RNLSY) to leverage his turnaround experience in the automotive sector for the luxury retail industry.The appointment, announced Monday, sent Kering's shares in Paris up 12%, their highest one-day gains since December 2008. Renault shares fell 8.7%, their most in three years.De Meo, set to join on Sept. 15, will be the first outsider to run Kering, which is controlled by the billionaire Pinault family. Kering manages renowned fashion brands like Gucci and Balenciaga.Current CEO Francois-Henri Pinault will step down and remain the board's chairman.The appointment is a significant development for Kering, which has recently struggled to keep pace with rivals such as LVMH and Hermès International.The luxury industry continues to face headwinds from sluggish demand and pronounced weakness in the Chinese market, challenges compounded by U.S. trade tariffs that threaten to drive up costs and further dampen consumer spending.Kering's stock has plunged nearly 80% from its August 2021 peak, even as the company has taken on higher debt levels."The Group is ready for a new stage in its development," Pinault said in a statement, underscoring the company's plan to bring fresh thinking for its brands' revival.De Meo's "sharp understanding of brands" and his experience as a top executive “convinced me that he is the leader I was looking for to bring a new vision," Pinault said.De Meo has spent five years leading Renault after earlier roles at Fiat and Volkswagen AG.At Renault, he is widely credited for turning around the French carmaker and overhauling its strategic alliance with Nissan. Renault's stock market value roughly doubled under De Meo.So far this year,&nbsp;shares of Kering and Renault on the Paris bourse are down more than 16%.For updates and corrections, email newsroom[at]stocktwits[dot]com.

Gucci Owner Kering Taps Renault's Luca de Meo As First Outsider CEO Amid Luxury Brand's Turnaround

Current CEO Francois-Henri Pinault will step down and remain the board's chairman.

Kering shares jump 7% on reports of Renault’s De Meo as next CEO

European stocks edge higher ahead of central bank meetings, G7 gathering

Kering SA engages in the design, manufacture, marketing, and retail of luxury apparel and accessories. The firm offers apparel, leather goods, shoes, watches, jewelry, perfumes and cosmetics products. It operates through the following segments: Gucci, Yves Saint Laurent, Bottega Veneta, Other Houses, and Kering Eyewear and Corporate. The company was founded in 1963 and is headquartered in Paris, France.

Fiscal Period	Estimated	Reported	Surprise	Result
Q4 '25	$0.28	--	--	N/A
Q2 '25	--	$0.44	--	N/A

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Kering SA

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