🚨#Bybit CEO Ben Zhou Slams #PiNetwork as Token Crashes 60% After Mainnet Launch.
🚀 Bybit CEO Ben Zhou has once again voiced strong criticism against Pi Network, labeling it a scam and firmly stating that his exchange will not list its token. The ongoing controversy surrounding Pi Network's practices has only heightened tensions between Zhou and the project. He has consistently questioned its legitimacy and refuses to engage with what he perceives as a dubious venture.
In a recent social media post, Zhou highlighted a 2023 warning from Chinese police that branded Pi Network as a scam. The authorities pointed out how the network allegedly preyed on the elderly, exposing their personal information which led to significant financial losses, including pension funds. Zhou refuted any claims that Pi Network had rejected a Bybit listing or that his exchange failed a Know Your Business check, denouncing these accusations as entirely false. He challenged Pi Network to address the numerous reports questioning its legitimacy openly rather than launching unfounded attacks. Zhou reiterated that Bybit has no plans to list fraudulent projects, reaffirming his belief that Pi Network is a scam. He called on the project team to be transparent if they claim to have nothing to hide.
Pi Network, a blockchain project designed to simplify mining via mobile phones, was created by Stanford graduates Nicolas Kokkalis and Dr. Chengdiao Fan. After years of development, the Pi Network launched its mainnet on February 20th. Unlike Bitcoin, which requires high-powered computing systems for mining, Pi Coin can be mined effortlessly using the Pi Network’s mobile app with minimal impact on battery life. Major exchanges like Bitget, OKX, and MEXC swiftly supported Pi Coin. However, despite this support, Pi Coin suffered a drastic 60% drop in value over the past day and is currently trading at $0.67.
#crypto #ai #cryptocurrency
⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered financial or investment advice.
