because it is 💩

Here are the main reasons why Pi Network is still not listed on Binance (as of April-May 2025):
🚫 1. Mainnet still 'enclosed' and lack of transparency ≪ closure ≫
Although the official mainnet was launched on February 20, 2025, it remains in a so-called 'enclosed' phase, meaning it is locked with a firewall, without external connectivity. This prevents exchanges like Binance from examining the network, measuring its liquidity, and evaluating its actual decentralization.