Bybit CEO Rejects Pi Token Listing Amid Pyramid Scheme Fears
1min read Bybit CEO Ben Zhou has rejected the possibility of listing the Pi token on the exchange, citing concerns about the token's legitimacy and the ongoing controversy surrounding the Pi Network. Zhou's decision comes amidst allegations that the Pi Network operates as a pyramid scheme in China, with critics contending that the platform resembles a multi-level marketing scheme rather than a legitimate blockchain project.
The debate over the Pi Network escalated after OKX announced its decision to list the Pi token, which led to Bybit CEO Ben Zhou ruling out the possibility of listing it on the exchange. Zhou took to Twitter to shut down speculation about a potential Pi listing on Bybit, stating that he had been personally invited to join Pi Network but turned down the offer, calling it "ridiculous."
Zhou's remarks indicate deep skepticism toward Pi Network's business model, which claims to enable "mobile mining" as a way to make cryptocurrency more accessible. His firm stance aligns with Bybit's cautious approach to listing assets that may pose regulatory or reputational risks.
In contrast, Bitget, which had initially shown support for the token, quietly removed related information, further fueling uncertainty about Pi Network's legitimacy. The ongoing controversy surrounding the Pi Network highlights the importance of thorough due diligence and regulatory compliance in the cryptocurrency industry.
