Bybit CEO Rejects Pi Token Listing, Citing 'Ridiculous' Concerns
1min read Bybit's CEO, Ben Zhou, has publicly refused to list the controversial PI token, following OKX's announcement to do so. Zhou, in a Twitter post, expressed his disinterest in joining the PiCoreTeam network, stating, "I'll keep my distance."
Zhou shared that he had recently been approached to join "Pi," but he rejected the idea, describing it as "ridiculous." He also shared his past experiences trading forex, where he frequently dealt with people asking for refunds or returns of their money. Zhou emphasized his desire to stay away from such situations in the cryptocurrency world.
The Pi Network's mainnet is set to launch on Feb. 20, 2025, at 8:00 UTC, marking the beginning of what it calls the "Open Network period of Mainnet." However, users have expressed concerns about potential trading risks. One user, surprised by the listing, suggested it might signal a shift towards a more centralized model. The user described the Pi Network as a "zero-cost mining project" where users can mine crypto on their phones with minimal barriers. The user also raised concerns about the Pi Network's referral system, suggesting it could resemble a pyramid scheme.
Meanwhile, Bitget has removed information about the PI token after initially announcing its launch. The protocol stated that Pi aims to be a safe web3 space where Pioneers can connect with the Pi they hold. However, a user claimed that Chinese traders have struggled with KYC verification due to limited slots or system issues, and even if they start now, they may not be approved in time for the token's listing.
