Pi Network faced allegations of fraud before the upcoming main net launch, while analyst Kim Wong defending the project, drew attention to global adoption, Blockchain security and KYC compatibility.
Why does Wong rely on the Pi Network project, which can be added to the Binance list?
In recent days, Pi Network’s legitimacy was questioned, in response to fraud charges against the project, Analyst Kim Wong said that the network was adopted widely and had a safe blockchain infrastructure. According to Wong, Pi Network’s full adaptation to the Know Your Customer (KYC) processes proves that the project is reliable. However, the sustainability of the reference -based mining system, data violations in the past and legal risks include the criticism.
Kim Wong, Social Media Platform X said in a statement that Pi Network’s structure facilitating cross -border transactions, free mobile mining opportunities and wide user base. Stating that the project operates in more than 200 countries, Wong said that more than 100 million registered users are active and that approximately 19 million have completed the KYC verification. He also added that 10.5 million people have already kept Pi coins in their wallets.
Wong emphasized the conformity of the KYC system developed by Pi Network in state regulations and said that it gives the project reliability. Layer 1 Blockchain infrastructure is decentralized, fast and scalable, saying that the analyst, Pi Network has contributed to the growing web3 ecosystem, he added. Opposing criticism, Wong questioned whether there was another crypto network with a global adoption and real world use on this scale.
However, despite Wong’s statements, doubts continue. Some critics suggest that Pi Network has made progress only due to recent regulatory changes, while others claim that the reference -based mining system resembles a pyramid scheme. In addition, the project came up in 2021 with accusations that the personal information of 10,000 Vietnamese citizens was leaked. The Pi Network team rejected these claims.
Despite all the discussions, Pi Network continues to find more places in the mainstream
The official account of the project left Ethereum (ETH) in terms of the number of followers in the social media platform X. Pi Coin, Okx, Bitget and Mexc are listed in many stock exchanges, while Gate.io began to support Pi trade. Bitget organized a 150,000 Pi AirDrop campaign for its users, while Gate.io launched a Launchpool event in which users won GT awards by Stakes Pi Token.
However, none of these stock exchanges are currently providing services to US investors. On the other hand, the possibility of Pi Network will be listed in Binance is getting stronger. If this happens, Pi Coin’s liquidity may increase to become more attractive for both corporate and individual investors. Considering the impact of Binance on the crypto market, a possible listing can contribute to the legitimacy of Pi Network’s legitimacy and create a significant increase in its price.
