Bybit CEO’s Bold Statement Sparks Controversy Around Pi Network

Bybit’s Firm Stand Against Pi Network Raises Major Concerns Worldwide

Bybit CEO Ben Zhou has openly dismissed Pi Network as a scam, citing serious concerns over its legitimacy. He pointed to a 2021 warning issued by Chinese authorities, which labeled Pi Network as a potential fraud targeting elderly individuals. The warning claimed that Pi Network could be misusing public data, raising further doubts about its credibility.

Zhou made it clear that Bybit has no plans to list the PI token. He criticized the project's lack of transparency and stated that Pi Network must address growing concerns rather than ignoring them. His statement has fueled skepticism about the project, with many now questioning its long-term credibility in the crypto industry.

Bybit Refuses to List PI Token

Ben Zhou also denied rumors that Pi Network had rejected Bybit’s listing request or failed its verification process. He clarified that Bybit never submitted a listing request in the first place, reinforcing his stance that Pi Network is not a trustworthy project.

Instead of addressing these allegations, Zhou accused Pi Network of making baseless claims and attempting to shift the narrative. He further urged the project to provide clear and factual responses rather than engaging in what he called "childish attacks." With Bybit distancing itself from the token, Pi Network now faces an uphill battle in proving its legitimacy to the crypto community.

PI Token Drops Over 59% Despite High Trading Volume

Following the controversy, the PI token experienced a sharp 59.58% drop in value within just 24 hours, causing panic among investors. However, despite the crash, trading volume surged by an astonishing 2833%, indicating that traders are still actively engaging with the token.

• The token's price fell from $1.99 to $0.7806 in a single day.

• High trading volume suggests that some investors still see potential in Pi Network.

• Analysts remain divided, with some predicting a possible rebound if major exchanges list PI.

Meanwhile, Binance is conducting a community poll to gauge interest in listing the PI token, with a majority of voters supporting its inclusion. If Binance proceeds with the listing, it could boost the token’s credibility and price.

Uncertain Future for Pi Network

The ongoing controversy has cast a shadow over Pi Network’s credibility, with Bybit CEO Ben Zhou’s firm rejection only adding to the concerns. His claims, backed by warnings from Chinese authorities, have raised doubts about the project’s legitimacy. While the token's price has suffered a significant decline, its high trading volume suggests continued market interest.

Pi Network's PI token is already listed on several exchanges, including XT.com, Huobi, BitMart, Hotbit, and CoinW. However, a Binance listing could significantly enhance its credibility, liquidity, and market exposure. While this may drive future growth, Pi Network still needs to address transparency concerns to gain full investor confidence. The coming weeks will determine whether a Binance listing strengthens its position or if skepticism continues to overshadow its potential.