Controversy Surrounds Pi Network's Token Listing on OKX

The recent announcement by cryptocurrency exchange OKX to list Pi Network's token, PI, on February 20 has sparked intense debate within the crypto community. While some critics question the legitimacy of Pi Network, others draw parallels with pyramid schemes.

On the other hand, Pi Network boasts a massive user base of over 70 million worldwide, with many users having mined PI on their smartphones for years. The listing decision has prompted mixed reactions from other exchanges, with Bitget announcing a simultaneous listing, while Bybit's CEO, Ben Zhou, expressed strong reservations.

Zhou stated, "Many people asked me if we're considering listing PI. I said, 'Don't be ridiculous.' I got into crypto to avoid questionable activities. I will stay away..." This response highlights the skepticism surrounding Pi Network's legitimacy.

The project's mainnet is scheduled to launch on February 20, coinciding with the token listing. However, a significant number of long-time PI miners have yet to complete their Know Your Customer (KYC) processes, leaving the token's price trajectory uncertain.

Key points:

- OKX's listing of Pi Network's token, PI, sparks controversy

- Critics question Pi Network's legitimacy and compare it to pyramid schemes

- Pi Network has a large user base of over 70 million worldwide

- Other exchanges respond differently, with Bitget listing PI and Bybit's CEO expressing strong reservations

- The mainnet launch and token listing are scheduled for February 20

- Many PI miners have yet to complete their KYC processes, leaving the token's price uncertain