Bybit CEO Slams Pi Network as "Big Scam," Refuses Listing

Bybit CEO Ben Zhou has publicly rejected the Pi Network, labeling it a "big scam" and refusing to list it on the exchange. Zhou's stance comes amidst growing concerns about the legitimacy of the Pi Network, with Chinese police issuing a warning in 2023 labeling it as such. The Pi Network token price has also dropped significantly since its launch, reflecting a decline of nearly 100%.

Zhou's rejection of the Pi Network is not a new development. In the past, he had expressed his skepticism about the project, turning down an invitation to join the network and stating that he wanted to avoid issues similar to those he encountered in forex trading. His strong stance against the Pi Network has drawn criticism from some supporters, who have accused Bybit of losing relevance in the crypto industry. However, Zhou has denied these allegations and maintained his position.

In response to the criticism, Zhou pointed to an official warning from the Chinese police issued in 2023, which classified the Pi Network as a scam targeting elderly people and causing financial losses, including their pensions. He also dismissed claims that Bybit had applied for a listing and was rejected by the Pi Network, calling these statements baseless.

Zhou's final stance on the matter is clear: "Yes, I still think you are a scam, and no, Bybit will not list scams." His commitment to avoiding questionable projects and maintaining Bybit's credibility in the crypto industry is evident in his strong words. As the Pi Network community continues to push for legitimacy, it remains to be seen how other exchanges will respond to the growing concerns about the project's legitimacy.