Bybit CEO Ben Zhou has reiterated his negative opinion about Pi Network, claiming it's a scam and asserting that Bybit will not list its token. Tensions between Zhou and the project continue.
Refusal to List Pi Coin
In a recent post on X, Bybit's CEO harshly criticized Pi Network, pointing to a warning from Chinese police labeling it as a scam. Authorities emphasized that Pi Network allegedly targets elderly people, exposing their data and leading to financial losses. Zhou dismissed claims of Pi Network refusing a Bybit listing or failing a KYB check. He urged Pi Network to publicly address the legitimacy concerns instead of making groundless attacks.
Pi Token Crashes 60%
Pi Network is a blockchain-based project designed to simplify mining through mobile phones, unlike Bitcoin, which requires high-powered computing systems. The Pi Network was created by Stanford graduates and launched its mainnet on February 20th. Despite support from exchanges like Bitget and OKX, the Pi Coin experienced a sharp 60% drop and is currently trading at $0.67.
Reaction and Consequences
Despite backing from certain exchanges and a scheduled community vote on Binance for a possible listing, Pi Coin has faced significant losses. This decline raises questions about the project's future and its sustainability in the crypto market.
Ben Zhou's accusations against Pi Network have fueled discussions about the project's legitimacy, potentially impacting its further development and investor confidence.
