Pi Network is the target of Ben Zhou, CEO of Bybit. Zhou announced that he would not list Pi Coin on the stock market by calling a big fraud. This statement, which came only one day after Pi Network’s main network launch, aroused a great impact in the community.
Pi Network Price at the collapse
Pi Coin launched its main network on February 20 and created great excitement in the crypto world. However, after the launch, the price of Pi Token fell rapidly and fell below $ 1. This means almost 100 %loss of value.
In 2023, Chinese officials published an official warning about Pi Network and classified the project as fraud. It was claimed that Pi Network had targeted elderly people, collected personal data and caused them to lose their savings like retirement funds.
Ben Zhou stays away from Pi Network
Bybit CEO Ben Zhou announced last week that he was invited to join Pi Network in his sharing via social media platform X, but rejected this offer by finding a “ridiculous”. Stating that he witnessed the efforts of investors to get back their money during the period he worked in the Forex market, Zhou said he did not want a similar situation to be experienced in the crypto world.
https://x.com/benbybit/status/1892608824869327026
Some members of the Pi community claimed that Bybit had applied for a listing, but was rejected by Pi Network. Zhou denied these claims in a certain language.
Pi Network Fraud Charges
Bybit CEO Zhou stressed that the fraud allegations about Pi Network should be taken seriously. Pi Network was not reliable by referring to the official statement of the Chinese police dated 2023.
Despite the reactions from the Pi Network community, Zhou continued to express the lack of confidence in the project. According to him, the Pi team should give a clear response to the allegations of fraud against the project instead of targeting critics.
Bybit is determined against suspicious projects
Zhou once again emphasized that Pi Network is unreliable, “I still think you are fraud and bybit cannot list frauds”he said.
These statements show that Bybit’s commitment to the policy of not including suspicious projects on the platform. While the Pi community continues to struggle to gain legitimacy, it is a matter of curiosity how other major stock exchanges will take off about Pi Coin.
