Pi Coin, the native cryptocurrency of Pi Network, has been listed on CoinEx, but the project faces questions about transparency and trust.
Pi Coin Debuts on CoinEx
On March 18, 2025, Pi Coin was officially listed for trading on CoinEx. The deposit and withdrawal window opened at 11:00 UTC, and trading began at 11:30 UTC, allowing trading against Tether (USDT). 'After thorough checks, CoinEx will list PI (Pi) on March 18, 2025,' the exchange said in a statement.
Controversies Over Pi Network's Funding
As concerns over Pi Network grow, users are demanding transparency about its funding sources. A pioneer investigation revealed that three firms, 137 Ventures, Ulu Ventures, and Designer Fund, invested in SocialChain Inc., the company managing Pi Network, yet none disclosed the investment amounts. A past lawsuit from former co-founder Vince McPhillip against Pi Network provides further insight into the project's funding strategies. The complaint claims that in September 2019, Pi Network sold SAFE (Simple Agreement for Future Equity) agreements with a $20 million cap, raising $500,000.
Pi Coin Price Drops Amid Market Troubles
Due to these problems, Pi Coin's market performance is suffering, losing 19.3% of its value over the past week. The coin dropped from 12th to 21st place on CoinGecko. While the overall crypto market is down, Pi's losses are significant. As of writing, PI was valued at $1.1, 16.5% down from 24 hours ago.
Despite the challenges, the Pi Network community remains strong, notably through PiFest 2025, which has attracted over 100,000 registered sellers worldwide.
