Is Binance Listing a Disaster for Pi Network (PI)?

Jakarta, Pintu News – Ray Youssef, CEO of NoOnes and former co-founder of Paxful, expressed his controversial views on Binance in a recent podcast with BeInCrypto.

According to him, since Changpeng Zhao (CZ) left his position, Binance has changed from a growth engine to an “extractive engine” that is more focused on profits than supporting crypto innovation.

Youssef emphasized that listing on Binance is now no longer a symbol of legitimacy, but can be disastrous for new projects like Pi Network.

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Losing Faith in Binance

Youssef argues that significant changes took place at Binance after pressure from US authorities forced CZ to step down in 2023. Since then, he argues, Binance has acted against the interests of users and chosen projects based on what they can get in return.

The new leadership at Binance is accused of being more concerned with control and profits than community and innovation. Youssef also mentioned that Pi Network may have rejected Binance’s demands for large token allocations or high listing fees, resulting in an impasse in their listing process.

Also read: Whale’s Massive Sale of Ripple (XRP), Will Price Plunge?

Listing on Binance may not be profitable for Pi Network

Although Pi Network users continue to push for a listing on Binance, Youssef argues that it may be a blessing in disguise that it hasn’t happened yet. According to him, if Pi Network is listed, the value of its token could fall by up to ten times.

Binance once played a critical role in popularizing ICOs and giving exposure to smaller projects. However, Youssef asserts that the era is over, and today’s exchange-driven token launches are more about taking over supply than nurturing innovation.

Read also: Price of 1 Pi Network (PI) in Indonesia Today (1/8/25)

Pi Network: Pyramid Scheme or Innovation?

Pi Network has long been criticized for its invite-only mining model, which rewards user acquisition. Some have called it a pyramid scheme, while proponents argue that it’s a new way to build a user base.

Ray Youssef did not directly endorse the project but highlighted one reason why Pi Network may be misunderstood. Despite having rolled out several key and ecosystem updates, the value of Pi Coin has continued to decline, trading near an all-time low of around $0.44.

Conclusion

Ray Youssef’s comments reflect a broader consideration in crypto: centralization in exchange listings, regulatory capture, and consolidation of power have created systemic risk. In his opinion, Pi Network may have avoided the pitfalls by not joining Binance, despite pressure from the community. “Projects listing on Binance thought this was their big moment.

Instead, they were sold by the whales. Maybe they are better off not joining,” he concluded. Debate continues over the future of Pi and the utility of its token, but one thing is clear: legitimacy in crypto no longer flows through the same channels as before.

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Reference

• BeInCrypto. Pi Network Binance Listing Could Cause Damage. Accessed on July 31, 2025
• Featured Image: Coin Central