Pi Coin Drops 19.3% Amid Transparency Concerns, Binance Listing Uncertain

Pi Coin (PI) has recently been listed on CoinEx, marking its 12th exchange listing. This development comes amidst growing concerns within the community about the project's transparency and financial clarity, as well as a notable decline in the coin's value. The listing on CoinEx, which occurred on March 18, 2025, introduced new trading opportunities for Pi holders, with trading pairs against Tether (USDT) becoming available shortly after the deposit and withdrawal window opened. However, the community's enthusiasm is tempered by uncertainty surrounding a potential listing on Binance, despite overwhelming support from Pi Network's community members.
Close to 86% of Pi Network’s community has voted for a Binance listing; however, the exchange has not confirmed this move, which has led to questions regarding Pi Network’s long-term viability. The lack of confirmation from Binance has raised serious concerns about public trust in the project, with community members expressing frustration over the delay. One community member commented, “The failure to get listed on Binance, despite overwhelming support, raises serious concerns about public trust in the project.”
Amid these developments, Pi Network is facing increased scrutiny from its community, which is demanding greater transparency regarding its funding sources. An investigation led by a Pi Network pioneer revealed that SocialChain Inc. has received investment from three firms—137 Ventures, Ulu Ventures, and Designer Fund. However, two of these investors have not disclosed Pi Network in their official portfolios, raising questions about the project’s funding integrity. Despite being forthcoming with investment details for other entities, these firms have remained silent regarding the financial specifics related to Pi Network. This lack of transparency has led to calls for greater openness from the Pi Core Team, with community members arguing that long-term sustainability requires clarity about financial backing and key partnerships.
Additionally, recent legal challenges, including a lawsuit by former co-founder Vince McPhillip, have revealed further complexities about the project’s funding. The lawsuit details the financial mechanisms through which Pi Network operated, including fundraising rounds that culminated in the sale of Simple Agreements for Future Equity (SAFE) totaling $800,000. These developments have added to the community's concerns about the project's financial transparency and stability.
The recent developments have also negatively impacted PI’s market performance, with the altcoin recording a sharp decline of 19.3% in value over the past week. This downturn has now placed Pi Coin from the 12th to the 21st position in the cryptocurrency rankings. As of the latest updates, PI trades at $1.1, reflecting a 16.5% decrease in just 24 hours. While the broader cryptocurrency market witnesses declines, PI’s losses raise concerns regarding its stability. However, community spirit remains high, especially with the PiFest 2025 event attracting significant participation globally. This year’s PiFest has registered around 100,000 sellers, with 49,000 active participants utilizing the Map of Pi. Community engagement continues to show resilience, particularly in regions where users rapidly exchange goods and services using PI tokens.
Interestingly, the Pioneer Korea community has established a consensus valuing 1 PI at $50, showcasing a stark contrast with its current trading price and highlighting the divergent perspectives within the community. In summary, while Pi Coin’s listing on CoinEx represents a step forward, the project faces significant challenges related to transparency and community trust. With recent price declines complicating its market position, the future of Pi Network hinges on addressing these issues effectively, ensuring clarity in its financial undertakings to regain community confidence and stabilize its performance.

Comments
No comments yet