A conflict between Pi Community and Bybit
$4.25B
CEO Ben Zhou has drawn consideration, following accusations that Pi is a fraudulent mission.
The controversy started on February 20 when an X account claiming to be Pi Community’s “unofficial technical crew” alleged that Bybit had requested to listing Pi however was denied. The identical submit instructed that Bybit was struggling to keep up its market place.
Zhou dismissed the declare, stating that Bybit by no means approached Pi Community for an inventory. He went additional, calling the mission a rip-off and referencing a 2023 report from Chinese language authorities warning about fraudulent actions concentrating on older people.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
The place to Commerce Crypto: 3 Finest Approaches Defined (Animated)
Zhou made it clear that Bybit had no intention of itemizing Pi and challenged the mission to show its legitimacy.
In response, Pi Community said that the Chinese language police warnings Zhou cited had nothing to do with the corporate itself. As a substitute, the studies have been about dangerous actors falsely utilizing Pi Community’s identify. The corporate clarified that it had no involvement within the incidents talked about and had by no means been contacted by authorities relating to them.
Pi Community additionally addressed criticism about its person base. Whereas some critics level to blockchain knowledge exhibiting solely 10.8 million wallets, the corporate defined that this determine represents customers who’ve accomplished pockets setup, not the overall person base.
Moreover, Pi Community clarified that its reported 60 million engaged customers discuss with app customers, and downloads on Google Play had surpassed 100 million.
In the meantime, Argentina’s President Javier Milei not too long ago denied claims that he endorsed the LIBRA token. What did he say about it? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Warfare II period.With near a decade of expertise within the FinTech business, Aaron understands all the largest points and struggles that crypto fans face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to individual for all the things and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the house as we all know it, and make it extra approachable to finish inexperienced persons.Aaron has been quoted by a number of established shops, and is a printed writer himself. Even throughout his free time, he enjoys researching the market traits, and in search of the subsequent supernova.
