CandleFocus Bybit CEO Continues to Criticize Pi Network, Calls It a Scam
2025-02-20
Author: Content Editor
The CEO of Bybit, Ben Zhou, shared a warning from Chinese law enforcement officials claiming that Pi Network is a scam and a pyramid scheme targeting the elderly. The warning could have implications for China's crypto policy if the project collapses. Despite this criticism, Pi Network had its long-awaited mainnet launch and conducted the largest airdrop in crypto history, distributing $12.6 billion worth of tokens. Other exchanges, such as OKX and Binance, have faced criticism for considering listing Pi. The controversy surrounding Pi Network highlights the potential impact it could have on China's stance on the crypto industry. Nevertheless, there are still defenders of Pi Network and opportunities to buy the token elsewhere. Currently, Pi Network is trading at around $1.24, representing a nearly 50% decrease from its launch price.
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