Ben Zhou, the CEO at Bybit, has made it very clear, he does not trust Pi Network. Bybit recently confirmed that it will not list the Pi token on its exchange, and he referred to the project as a Big scam. This all comes after Pi Network’s mainnet launch faced excitement and controversy.
Why Did Bybit Reject Pi Network?
There have been a lot of voices from Ben Zhou, who is very skeptical. He posted on X (formerly Twitter) that he was invited to join Pi Network but declined, calling it “ridiculous.” Like many past scams that ever existed in forex trading, where people lost their money and the latter tried to get it back, he compared this the same thing with Pi Network. He never wanted similar issues in the crypto space.
In turn, Zhou also pointed out that in 2023 the Chinese police had already warned that Pi Network was a scam and targeted elderly people. According to reports, Pi Network acquired personal data and incurred financial losses. Zhou thinks that the reason for this renders Pi Network unsafe and unworthy of trust.
Pi Community Fights Back
After that, Pi network supporters had a quick reaction to the comments made by Zhou. Others asserted that Bybit had indeed applied to list Pi only to be denied. But Zhou totally denied this, stating that Bybit never had any interest in listing Pi in the first instance.
This drew more criticism, and Zhou responded with:
“Yes, I still think you are a scam, and no, Bybit will not list scams.”
Pi Token Price Drops
This has resulted in badly affecting Pi’s price. Since its release, the Pi token has gone down by almost 60%. Currently, Pi can be bought at $0.78 per piece, which is very far from its record high of $1.99.
However, some traders still think Pi could hit $300, even after the drop, if more exchanges list it. As of now, Bybit seems determined to let it be known that there is no room for scams!
Also read: Missed the Pi Train? Here’s Your Quick Guide to Buy Pi Coin
