Bybit vs. Pi Network: No Bybit Listing as Ben Zhou Calls Pi a Scam

Introduction

The discussion around Pi Network’s legitimacy has intensified following a public exchange between Bybit CEO Ben Zhou and Pi Network supporters. Zhou has expressed serious concerns about Pi Network, asserting that Bybit will not list its token. His remarks have sparked debates across the cryptocurrency community, especially in light of Pi Network’s recent mainnet launch and subsequent price volatility.

Pi Network advocates claim Bybit was denied a listing due to compliance issues, but Zhou refuted this, calling the claim “completely untrue.” He also referenced a 2023 statement from Chinese authorities warning about potential risks associated with the project.

The crypto community remains divided. Some support Bybit’s cautious approach, while others believe Pi Network should be given a chance in the open market. With platforms like OKX and Bitget listing $PI, the discussion around regulatory concerns and listing requirements continues to evolve.

Bybit’s Perspective: Concerns Over Pi Network’s Transparency

Ben Zhou made his stance clear in a recent post on X (formerly Twitter), emphasizing Bybit’s commitment to listing only projects that meet strict transparency and security standards.

🔹 A 2023 report from Chinese authorities raised concerns about Pi Network’s operations, urging the public to exercise caution.
🔹 Individuals were reportedly encouraged to participate with promises of high rewards, but many received no returns.
🔹 Some participants shared personal information in hopes of accessing their earnings but faced difficulties withdrawing funds.
🔹 Bybit never requested to list Pi, contradicting claims that the exchange was denied by Pi Network.
🔹 Zhou invited Pi’s developers to publicly address concerns, but no official response has been issued.

This exchange has amplified conversations about responsible exchange listings. Supporters of Pi Network continue to defend the project, while critics highlight the need for greater transparency.

For more on crypto exchanges assessing risks before listing tokens, read How to Identify and Avoid Cryptocurrency Scams.

Pi Network Community Responds

Despite Bybit’s concerns, Pi Network supporters remain optimistic. Some have suggested that Bybit is distancing itself from the project due to market uncertainty, rather than regulatory concerns.

🔹 Supporters highlight Pi Network’s community-driven approach and its growing adoption.
🔹 Many believe the recent Open Mainnet launch was a milestone, despite early price fluctuations.
🔹 Some argue that Bybit’s reluctance may change over time as Pi Network gains broader acceptance.

The discussion has brought renewed attention to Pi Network’s market presence. Its initial surge to $1.99 was followed by a sharp correction to $0.91, raising questions about long-term stability.

For further insights on crypto market movements, explore Will Binance List Pi Token?.

Bybit CEO Challenges Pi Network’s Legitimacy – No Plans to List $PI

Pi Network’s Market Debut and Price Volatility

Pi Network’s official trading launch on February 20 led to rapid price shifts:

✅ Early trading: $PI reached $1.99, driven by initial enthusiasm.
❌ Hours later: The price fell 55% to $0.91, raising concerns among traders.

This volatility has prompted discussions about Pi’s supply model and realistic price expectations. While some analysts predict significant future growth, others caution that Pi’s high supply makes extreme valuations unlikely.

For a closer look at volatile crypto listings, read How to Sell Pi Coin After Open Network Launch – Step-by-Step Guide.

Bybit’s Approach to Exchange Listings

Bybit follows a careful evaluation process before listing any cryptocurrency. The decision to not support $PI aligns with its policies focused on security, compliance, and investor protection.

🔹 Factors influencing Bybit’s stance:
✔ The need for clear developer transparency.
✔ Reports questioning Pi Network’s operational model.
✔ Regulatory statements advising caution regarding the project.

Ben Zhou’s remarks have received mixed reactions. Some traders appreciate Bybit’s due diligence, while others believe Pi Network should be listed and evaluated by the market itself.

What’s Next for Pi Network?

With Bybit opting out, the focus has shifted to other major exchanges. Binance has launched a community vote to gauge interest in a potential Pi listing.

🔹 Will Binance move forward with listing? Users can vote on the decision here.
🔹 Regulatory discussions continue: Authorities are monitoring Pi’s market impact.
🔹 Growing interest: Pi Network’s active community continues to advocate for broader adoption.

The coming months will be critical in determining Pi Network’s market standing. If major exchanges like Binance or Coinbase decide to list Pi, it could significantly boost confidence in the project.

For more updates on Pi Network, check out Pi Network Launches After 6 Years.

Final Thoughts

The exchange between Bybit and Pi Network’s supporters highlights the ongoing discussions around transparency, legitimacy, and market readiness. Ben Zhou’s remarks reflect Bybit’s cautious approach, while Pi Network’s community remains hopeful for greater adoption.

As the crypto industry continues to evolve, different exchanges will adopt varied strategies in determining which tokens to support. Whether Pi Network gains further listings or remains a niche project will largely depend on future developments and regulatory clarity.

For more insights and detailed guides on cryptocurrency, visit our Crypto Guides Section.

Stay Updated

For the latest updates on cryptocurrency trends and news, follow us on:

Stay informed with the latest strategies and insights in the world of cryptocurrency at FreeCoins24.io.

Special Offer

For an enhanced trading experience, consider Bybit. Sign up through our referral link to unlock exclusive rewards, including up to $30,000 in deposit bonuses, and elevate your trading journey.