Bybit CEO Ditches PI Exchange Support
Date: 2025-02-13 Author: Henry Casey Categories: BUSINESS
Bybit CEO Ben Zhou has categorically spoken out against listing the PI token on the exchange, despite OKX’s recent decision to support the asset. His statement has caused a stir in the crypto community, where the legitimacy of the Pi Network project is being debated.
“I used to work in the forex market and saw old people holding signs demanding their money back from dubious schemes. I don’t want to deal with such projects and stay away from them,” Zhou said on social media.
The PI token is the native currency of the Pi Network, a project launched in 2019. Its users receive coins through free mining via a mobile app. Tokens can be used to pay fees, as well as in the platform’s ecosystem for making payments. Despite its significant number of participants, Pi Network remains a controversial project in the eyes of many experts.
After several years of testing, the Pi Network team announced the launch of the Open Network mainnet. From February 20, users will be able to conduct transactions with PI outside the platform's ecosystem. However, access to the Open Network is possible only after passing the KYC (personal identification) procedure, which has caused discontent among the community. Some participants complain that they have been mining tokens for years, but now face obstacles that may limit their access to assets before the official launch of the mainnet.
Previously, Pi Network repeatedly postponed the KYC verification deadline: first from November 31 to December 31, and then to February 28. These changes only increased doubts about the transparency of the project.
