Bybit CEO Ben Zhou has doubled down on his stance towards Pi Community, calling it a rip-off and confirming that his trade won’t checklist its token. As Pi Community stays embroiled in controversy over its practices, tensions between Zhou and the undertaking proceed to accentuate.
He has repeatedly challenged its legitimacy and has refused to interact with what he sees as a questionable operation.
No Plans to Checklist Pi Coin
In a latest post on X, Bybit CEO strongly criticized Pi Community, pointing to a 2023 warning from Chinese language police that labeled it a rip-off. Authorities highlighted how Pi Community allegedly focused aged people and uncovered their private information, resulting in monetary losses, together with pensions.
Zhou additionally dismissed claims that Pi Community had refused a Bybit itemizing or that the trade failed a Know Your Enterprise (KYB) test, calling these accusations fully false. He challenged Pi Community to publicly handle the a number of experiences questioning its legitimacy as an alternative of resorting to baseless assaults.
Zhou made it clear that Bybit had no intention of itemizing fraudulent initiatives whereas reaffirming his stance that Pi Community was a rip-off. He urged the undertaking workforce to be clear in the event that they don’t have anything to cover.
“If the undertaking is reputable and straight up, then you need to come forth and handle these report so everybody can perceive, however as an alternative you select to make up shit and do these infantile assault with no floor.”
Pi Token Crashes 60%
Pi Community is a blockchain-based undertaking designed to simplify mining by way of cellphones. In contrast to Bitcoin, which requires high-powered computing methods for mining, Pi Coin may be mined effortlessly through its cellular app with out considerably affecting battery life. Created by Stanford graduates Nicolas Kokkalis and Dr. Chengdiao Fan, the Pi Community formally launched its mainnet on February twentieth after years of growth.
Main exchanges corresponding to Bitget, OKX, and MEXC rapidly supported its native token, Pi Coin. In the meantime, Binance announced a group vote for the itemizing of the token on the crypto trade. Nevertheless, regardless of this backing, Pi Coin skilled a pointy 60% drop in worth over the previous day. It was presently buying and selling at $0.67.
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