Bybit CEO Refuses to List Pi Network’s PI Token Amid Scam Allegations
- Bybit CEO Ben Zhou announced the exchange will not list Pi Network’s PI token.
- A 2023 Chinese police warning labeled the project a scam targeting elderly individuals.
- The PI token debuted at $0.67, peaked at $2, and fell to approximately $0.69.
- Pi Network’s marketing tactics have drawn comparisons to Ponzi schemes like Bitconnect.
- The token has a market cap of $4.18 billion with a fully diluted value of $67 billion.
Bybit CEO Ben Zhou cited a Chinese police warning from 2023 alleging that Pi Network is a scam, leading him to refuse listing its PI token on the exchange. Despite concerns, the token launched with significant trading activity and fluctuating prices.
Source (2.6)https://www.coindesk.com/business/2025/02/21/bybit-ceo-labels-pi-network-a-scam-citing-official-police-warning?rand=52298
