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- OKX will proceed with listing PI token despite ongoing controversies and pyramid scheme allegations.
- Pi Network confirms no further delays as Enclosed Mainnet period ends with upcoming migration.
The crypto industry is once again buzzing with excitement about the PI token listing. After OKX announced that it would start spot trading for this controversial token, mixed reactions emerged. One could say that OKX’s action benefits the Pi Network community in some sense. On the other side, the robust denial from Bybit’s CEO and Bitget’s retreat begged serious concerns among investors.
PI’s Journey Amid Pyramid Scheme Allegations
The PI token is not a new name in controversy. Since its inception, this token has often been associated with alleged pyramid schemes, especially in China. Actually, the argument on the validity of this network is still under progress within the worldwide crypto community. Still, OKX is resolved to carry on with the listing strategy and provide fresh trading chances for its customers.
Imagine if you were an investor starting from the beginning and had followed Pi Network. News that this token would be formally tradeable finally surfaced years of anticipation. Of course, hope for possible future earnings and interest about such would surface. What then about the hazards involved in this choice?
Bybit Firmly Denies: “We Will Not List PI”
In the middle of the community’s excitement about OKEx’s proposals, Bybit CEO Ben Zhou has been clear-cut. Zhou said in a public statement that Bybit intends no listing of the PI coin. He underlined that this action was done as a preventive measure against possible risks resulting from the still-debatable initiative.
今天一堆人问我要不要上pi，我说别他妈逗逼了，我以前做外汇成天被大妈大爷拉横幅还我血汗钱，做币圈就是真的不想整这出了。。。敬而远之。。谢谢。 https://t.co/mdCApmciE4
— Ben Zhou (@benbybit) February 12, 2025
The denial of Bybit is somewhat unexpected. The exchange is well-known to be rather active in adding new assets to its platform. This choice, however, seems to be a warning that not all significant participants in the cryptocurrency market are ready to welcome PI tokens in their ecosystem.
Bitget Removes Information Related to PI
Bitget, who had before declared intentions to list the PI token, stepped back abruptly as well. Their platform silently deleted data regarding this token. This choice fuels more rumors on the possible hazards still present around the token.
On the other hand, CNF previously reported that for Pi Network, the forthcoming network move is a pivotal event. The Enclosed Mainnet period started in December 2021 and will end with the migration procedure. The PI mainnet was operational during this time but behind firewall protection to ensure network security.
OKX Pushes Forward as Pi Network Confirms Mainnet Readiness
Besides that, OKX stays positive despite the mixed reactions. According to their announcement, PI token deposits will open on February 12, 2025. Spot trading for the PI/USDT pair is set to go live on February 20, 2025, with withdrawals starting the next day, February 21.
Furthermore, stressed by the Pi Network team was the mainnet launch as planned, free of any additional delay. They stated the network is ready to start a fresh phase of development and all technical criteria have been satisfied.
Will PI Escape Controversy?
Under these circumstances, one wonders: can the PI token flee the shadow of controversy? History has proven that public mistrust of crypto initiatives initially calls for time and actual data to build confidence.
Future success of Pi Network will depend mostly on their actions resolving pyramid scheme claims and demonstrating the value of their network.
