Bybit CEO Ben Zhou has firmly rejected the possibility of listing the PI token on the exchange. His statement follows the recent decision by crypto trading platform OKX to list the token today – a move that has stirred up debates on social media over the project’s legitimacy.
In a February 12 X post, Zhou responded to inquiries about the PI token’s listing on Bybit, stating the platform is steering clear from it.
“I used to do forex, and every day, I was surrounded by old ladies and gentlemen with banners demanding their hard-earned money back,” Zhou wrote. ” A situation in the crypto market is really the last thing I want to deal with… Keep my distance… Thanks.“
PI token listing on OKX raises eyebrows
Some members of the crypto community are questioning OKX for listing a supposedly decentralized mining project on a centralized exchange. But others feel like Pi is being overly-bashed for nothing more than negative sentiments.
Crypto analyst Haotian, known on X as CryptoInsight, offered his take on the matter in an lengthy post published early Wednesday.
Haotian noted that PI’s popularity is particularly strong in markets where financial literacy is lower, which has caused some industry figures to be more “harsh” towards it. He pointed out that slogans like “one PI, one BTC” has massively contributed to the misunderstandings about the token’s true value.
His advice to critics was: “If you don’t like it, just stay out.”
Beyond PI itself, Haotian argued that the backlash to its listing on OKX is part of a much deeper problem – the state of market liquidity.
Haotian also addressed the way crypto exchanges are currently picking out token listings – compared it to a time when listing teams evaluated projects based on their user cases and importance.
Now, he argues, the financial benefits of new listings are fading. In addition, branding advantages, known to help new projects gain traction, are weakening by the day.
There is also a question of why AI-driven tokens are being overlooked in favor of PI. He suggests this reflects a disconnect between what exchanges see as a priority and what investors are actually looking for.
Pi network announces mainnet launch, but it could be too late
Earlier today, the Pi Network developers confirmed its Open Mainnet will officially launch on Feb 20. This transition marks the end of its Enclosed Mainnet phase.
However, there is a KYC verification delay problem.
关于 PI 币上 @okx 交易所这事，简单谈谈看法：
1）PI 币在下沉市场的发酵给了很多Crypto从业者一种莫名道德“优越感”，几乎都有被身边大妈大叔以“一PI一BTC”的口号而搞懵圈过。…
— Haotian | CryptoInsight (@tmel0211) February 12, 2025
“I’ve been a Pi Network member since 2020 and submitted my KYC with my passport and face verification [yet] it remains in tentative approval,” one frustrated user on X complained. “Please approve my KYC or allow resubmission so [that] I can contribute to the Pi ecosystem.“
Some claim they spent years mining Pi tokens, only to face sudden KYC hurdles that may prevent them from accessing their holdings before the mainnet launch.
$PI 最大的cx盘零撸盘 居然上okx了 你敢信
关于 $pi
总量1000亿(社区猜测 未证实)
映射问题
大打折扣 kyc验证就拦住了很多用户 许多人kyc一直通过不了 特别是中文区 在今天之前很多人都没有kyc验证 今天验证 估计到上线都通过不了 说好听点是用来控盘 🤣 说难听点 估计中文区kyc名额不多… https://t.co/6aVHVvmu8l— Cook (@Asenup4) February 12, 2025
The network previously delayed its KYC verification deadline from November 31 to December 31, before pushing it further to February. According to the project’s official website blog, users now have until February 28 to complete verification.
Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
