Bybit CEO Ben Zhou said Thursday that his exchange will not list the Pi Network's PI token, which was controversially released on Thursday, citing a Chinese police warning from 2023 that alleged the project was a scam targeting elderly people, leaking their personal information and leading to the loss of their pensions.

Pi Network’s mainnet launch overshadowed by Bybit CEO’s harsh criticism. On Thursday morning, the Pi coin was officially listed on several exchanges, including OKX, Gate.io, B

Bybit CEO Ben Zhou criticized the Pi Network, calling it a scam. Zhou cited a 2023 Chinese police warning alleging the project targets the elderly.

Crypto expert Kim H Wong believes trading in Pi is disappointing as pioneers keep selling and buy orders are small ( highest 1K Pi, on average a few hundred Pi). No big capital is insight. However, this can also be look at as positive, as sellers exhausted, and buyers jump in, price should go back up again.

The long-awaited Pi Network open network finally launched on February 20, 2025, after months of anticipation from early adopters. Despite the successful

Pi Network’s native token, PI, dropped more than 65% following the project’s highly anticipated mainnet launch. On Feb. 20, Pi Network announced that its “Open Network” had officially launched. The project said this allowed users to access centralized exchanges and other businesses beyond its ecosystem.