Amid rising enthusiasm surrounding the Pi Network, Bybit CEO Ben Zhou labeled it a rip-off. Clarifying that Bybit has no plans to record the PI token, the Bybit CEO questioned the venture’s legitimacy.
Meanwhile, the PI token’s worth plummeted by over 55% in a single day, inflicting alarm amongst buyers. Despite its preliminary reputation, the token’s downward spiral has raised considerations about its long-term viability.
Pi Network Is a Scam, Says Bybit CEO
Bybit CEO Ben Zhou has publicly voiced his skepticism concerning the Pi Network’s legitimacy, calling it a rip-off. In a latest X post, Zhou explicitly acknowledged that Bybit won’t record the PI token, reaffirming his doubts about its authenticity. He acknowledged, “I still think you are a scam, and no , Bybit will not list scam.”
Referring to a 2021 warning from the People’s Government of Hengyang, Zhou identified that the Chinese Police deemed Pi Network as a rip-off focusing on aged of us. According to stories, the federal government has issued a warning towards Pi Network’s alleged plans to misuse the general public’s private knowledge to build up pension funds. The Bybit CEO added, “There are multiple other reports out there questioning the project legitimacy.”
Bybit Has No Plans to List PI Token
Reiterating his earlier stance, Ben Zhou acknowledged that Bybit shouldn’t be itemizing the Pi token, resulting from rip-off considerations. In a earlier put up, he dismissed rumors of Bybit itemizing the Pi token, with a message in Chinese. The put up is translated as,
A bunch of individuals requested me at the moment if I needed to record Pi. I stated, ‘Stop being ridiculous.’ Back after I was buying and selling foreign exchange, I used to be continually confronted by middle-aged folks demanding their hard-earned a refund. I actually don’t need to take care of that within the crypto house—so I’m retaining my distance. Thanks
In the latest thread, Zhou confirmed that Bybit hasn’t submitted a itemizing request for the PI token. He reiterated that allegations of PI turning down Bybit’s itemizing or failing the alternate’s KYB verification course of are unfounded. Further questioning the venture’s legitimacy, Zhou acknowledged, “If the project is legitimate and straight up, then you should come forth and address these report so everyone can understand , but instead you choose to make up shit and do these childish attack with no ground.”
Notably, Binance is currently conducting a neighborhood ballot to gauge curiosity in itemizing Pi. So far, the vast majority of voters are in favor of including the coin to the platform.
PI Plummets: What’s Next?
Despite the preliminary hype, Pi Network’s PI token has plummeted by a massive 59.58% over the past 24 hours. However, merchants stay optimistic concerning the token which is clear from the staggering 2833% surge in its buying and selling quantity.
At press time, the PI token is buying and selling within the crimson zone, at a worth of $0.7806, considerably down from the excessive of $1.99. However, pushed by the preliminary parabolic uptrend, analysts stay bullish. As per Pi price prediction, the token is poised to hit $300 pushed by potential listings by main exchanges.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and interesting voice within the cryptocurrency and blockchain house. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
