Amid rising enthusiasm surrounding the Pi Community, Bybit CEO Ben Zhou labeled it a rip-off. Clarifying that Bybit has no plans to record the PI token, the Bybit CEO questioned the mission’s legitimacy.
In the meantime, the PI token’s worth plummeted by over 55% in a single day, inflicting alarm amongst traders. Regardless of its preliminary recognition, the token’s downward spiral has raised issues about its long-term viability.
Pi Community Is a Rip-off, Says Bybit CEO
Bybit CEO Ben Zhou has publicly voiced his skepticism concerning the Pi Community’s legitimacy, calling it a rip-off. In a current X post, Zhou explicitly said that Bybit is not going to record the PI token, reaffirming his doubts about its authenticity. He said, “I nonetheless suppose you’re a rip-off, and no , Bybit is not going to record rip-off.”
Referring to a 2021 warning from the Individuals’s Authorities of Hengyang, Zhou identified that the Chinese language Police deemed Pi Community as a rip-off concentrating on aged of us. In line with studies, the federal government has issued a warning towards Pi Community’s alleged plans to misuse the general public’s private information to build up pension funds. The Bybit CEO added, “There are a number of different studies on the market questioning the mission legitimacy.”
Bybit Has No Plans to Record PI Token
Reiterating his earlier stance, Ben Zhou said that Bybit isn’t itemizing the Pi token, resulting from rip-off issues. In a earlier publish, he dismissed rumors of Bybit itemizing the Pi token, with a message in Chinese language. The publish is translated as,
A bunch of individuals requested me at this time if I needed to record Pi. I stated, ‘Cease being ridiculous.’ Again once I was buying and selling foreign exchange, I used to be continually confronted by middle-aged individuals demanding their hard-earned a refund. I actually don’t need to cope with that within the crypto house—so I’m preserving my distance. Thanks
Within the current thread, Zhou confirmed that Bybit hasn’t submitted an inventory request for the PI token. He reiterated that allegations of PI turning down Bybit’s itemizing or failing the trade’s KYB verification course of are unfounded. Additional questioning the mission’s legitimacy, Zhou said, “If the mission is reliable and straight up, then you must come forth and tackle these report so everybody can perceive , however as a substitute you select to make up shit and do these infantile assault with no floor.”
Notably, Binance is currently conducting a group ballot to gauge curiosity in itemizing Pi. Up to now, nearly all of voters are in favor of including the coin to the platform.
PI Plummets: What’s Subsequent?
Regardless of the preliminary hype, Pi Community’s PI token has plummeted by a massive 59.58% over the past 24 hours. Nonetheless, merchants stay optimistic concerning the token which is clear from the staggering 2833% surge in its buying and selling quantity.
At press time, the PI token is buying and selling within the crimson zone, at a value of $0.7806, considerably down from the excessive of $1.99. Nonetheless, pushed by the preliminary parabolic uptrend, analysts stay bullish. As per Pi price prediction, the token is poised to hit $300 pushed by potential listings by main exchanges.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and fascinating voice within the cryptocurrency and blockchain house. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
✓ Share: