Pi Coin Crashes By 60% As Bybit CEO Chimes In

No Pi Coin Listing

Zhou criticized Pi Network after referencing a 2023 warning from Chinese authorities who labeled it a scam. The warning highlighted how Pi Network allegedly targeted elderly individuals, leading to financial losses.

The CEO also dismissed claims that Pi Network rejected a Bybit listing or failed a Know Your Business (KYB) check, calling them false. He urged Pi Network to address the reports questioning its legitimacy rather than making baseless attacks.

Pi Token Drops 60%

Pi Network is a mobile-based mining project. It launched its mainnet on February 20th after years of development and strong community support.

While exchanges like Bitget, OKX, and MEXC support Pi Coin, with Binance recently launching a community vote to decide whether it should be listed or not, its value dropped 60% in the past day, currently trading around $0.67.