Pi Community’s record-breaking airdrop has reignited controversy, with Bybit CEO Ben Zhou drawing consideration to previous warnings from Chinese language authorities labeling the undertaking a rip-off.
Whereas Pi fans have fun the long-awaited mainnet launch and its large $12.6 billion token distribution, critics stay vocal.
Zhou resurfaced a 2023 assertion from China’s regulation enforcement, which accused Pi Community of working like a pyramid scheme, preying on unsuspecting customers—notably the aged. The warning described misleading techniques, together with deceptive claims of free mining by a cell app, aggressive recruitment incentives, and even promoting private knowledge.
Bybit has firmly refused to listing Pi, and Zhou made it clear that his skepticism is private in addition to skilled. His response got here after Pi supporters mocked him on-line, prompting him to double down on his view that the undertaking lacks legitimacy.
Different exchanges have additionally confronted scrutiny over potential Pi listings. When OKX prompt it would add the token, customers rapidly identified that such a transfer might provoke backlash from Chinese language regulators. In the meantime, Binance launched a neighborhood vote on the problem, with a majority supporting the itemizing, although opposition stays robust.
Critics fear that Pi Community’s popularity might affect China’s evolving stance on crypto, probably stalling any progress in regulatory openness. Regardless of these issues, Pi maintains a loyal following, and whereas Bybit refuses to have interaction, different platforms proceed to supply entry to the token.
