Ben Zhou, CEO of Bybit, the world’s second-largest cryptocurrency exchange by trading volume, recently commented on the launch of Pi Network. After six years of development, Pi Network officially went live on February 20, introducing its native token, PI, which is now available for trading under the PI/USDT pair.
The PI token has been listed on major exchanges such as OKX, Bitget, MEXC, and Gate. Meanwhile, Binance, the world’s largest exchange, is holding a community vote to decide whether to list PI.
By contrast, Bybit, the second-largest exchange, outright refused to list Pi Network. Shortly after PI was listed on other exchanges, Bybit CEO Ben Zhou explained the decision.
“Bybit never requested to list PI. Claims that Pi Network rejected Bybit or that we failed due diligence are completely baseless,” Zhou stated on X.
He also referenced a 2023 warning from Chinese police, which accused Pi Network of being a pyramid scheme targeting the elderly to collect personal data and steal assets.
“If the project is legitimate, the team should address concerns and clarify its purpose. Instead, they resort to fabrications and childish attacks. Yes, I still believe it’s a scam. Bybit will not list a scam project,” Zhou wrote.
Bybit CEO's post about the Pi Network project continues to receive a series of mixed opinions. Many argue that Bybit's system is adequate and helps provide a healthy cryptocurrency offering. Meanwhile, supporters of the Pi Network project reflect the views of CEO Ben Zhou. They believe that the Bybit exchange is gradually losing its position by not listing PI coin. Up to this point, the Pi Network project is still causing a lot of controversy in the cryptocurrency community. After being listed, PI coin also continuously decreased in value with many people expressing disappointment. As of the afternoon of February 21, PI was trading around 0.68 USDT (1 USDT is equivalent to 1 USD).
