Bybit CEO: Pi Network is more dangerous than meme coins
The founder of Bybit, Ben Zhou, stated that Pi Network targets individuals who are not knowledgeable about cryptocurrency, creating unrealistic expectations about easy money-making, unlike meme coins – which are primarily for entertainment or speculation and where players are usually aware of the risks. He criticized Pi Network for its lack of transparency by not disclosing its development team, frequently delaying commitments, and not clearly explaining how the project creates value. Zhou believes this makes Pi Network resemble a Ponzi scheme, more dangerous than meme coins because it exploits users' ignorance. He further shared that after refusing to list Pi on Bybit, he and the exchange faced attacks on social media, while Binance also encountered similar negative responses when it did not list Pi. Pi Network, launched in 2019, allows users to "mine" Pi for free through a mobile app, but after nearly 6 years, it has only recently allowed trading, causing much controversy.
#pi #PiNetwork
The founder of Bybit, Ben Zhou, stated that Pi Network targets individuals who are not knowledgeable about cryptocurrency, creating unrealistic expectations about easy money-making, unlike meme coins – which are primarily for entertainment or speculation and where players are usually aware of the risks. He criticized Pi Network for its lack of transparency by not disclosing its development team, frequently delaying commitments, and not clearly explaining how the project creates value. Zhou believes this makes Pi Network resemble a Ponzi scheme, more dangerous than meme coins because it exploits users' ignorance. He further shared that after refusing to list Pi on Bybit, he and the exchange faced attacks on social media, while Binance also encountered similar negative responses when it did not list Pi. Pi Network, launched in 2019, allows users to "mine" Pi for free through a mobile app, but after nearly 6 years, it has only recently allowed trading, causing much controversy.
#pi #PiNetwork
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
96,294.05
-0.50%