Bybit CEO Calls Pi Network More Dangerous than Meme Coin, What’s the Reason?

Updated

March 11, 2025

Gambar Bybit CEO Calls Pi Network More Dangerous than Meme Coin, What’s the Reason?

Jakarta, Pintu News – Pi Network, which has been a hot topic among crypto enthusiasts, recently came under heavy criticism from Bybit CEO Ben Zhou.

Zhou stated that Pi Network is more dangerous compared to meme coins as it does not yet have a fully functional product and continues to experience delays in their mainnet launch.

Harsh Criticism from Bybit CEO

Ben Zhou, CEO of Bybit, expressed his concern for the Pi Network which he said has yet to have a fully functional product despite several years of development.

Zhou emphasized that the value of Pi Network relies heavily on community expectations rather than solid fundamentals. Pi Network is also not yet listed on a major exchange, although it was previously listed on OKX and MEXC.

Furthermore, Zhou criticized Pi Network for not having an operational blockchain and not being publicly tradable. This raises many questions regarding the transparency and true potential of the project.

According to Zhou, relying on community trust and FOMO without a real product is a real danger.

Pi Network Community Reaction

Zhou’s statement was not well received by the Pi Network community. Many community members felt that the assessment was unfair considering that Pi Network is still in the development phase.

They believe that the project has great potential in the future. A user by the name of s_nakotomo stated that Zhou’s statement shows a lack of deep understanding and surface judgment of the crypto ecosystem.

Bybit CEO Ben Zhou’s statements about Pi Network reveal a deep lack of understanding and a superficial assessment of the crypto ecosystem.

Pi Network is not just a “press a button and earn money” project; it is one of the largest community-driven, open-source, and KYC-verified… https://t.co/AedLCT7O33
— Satoshi Nakamoto (@s_nakotomo) March 10, 2025

In response, the Pi Network community retaliated by downgrading Bybit’s app rating on the Google Play Store to 2.7 stars. Zhou hopes that the Pi Network team will come forward and explain their project publicly rather than making personal attacks or targeting exchanges.

Comparison with Meme Coin

While Pi Network and meme coins like Dogecoin and Shiba Inu are both community-driven, Zhou emphasizes that meme coins have an established blockchain foundation and are listed on major exchanges. This provides greater liquidity and a clearer market value.

Previously, Zhou had also called the Pi project a scam, which added to the controversy. Meanwhile, the Pi Network token is still struggling to reach $2 as bearish indicators dominate.

As of March 11, 2025, PI coin is trading at $1.38, down 0.6% over the past 24 hours.

Overall, Zhou’s criticism of Pi Network highlights the challenges faced by crypto projects that are still in the development stage.

Although the Pi Network community remains optimistic, it is important for investors to consider the risks associated with projects that do not yet have a fully functional product and clear transparency.

That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.

Follow us on Google News to get the latest information about crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu Crypto via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference: