Bybit CEO: Pi Network is More Dangerous than Meme Coins

Rare Bitcoin: Bybit founder Ben Zhou believes Pi Network targets people who lack crypto knowledge, creating unrealistic expectations unlike the meme coin game.

“A lot of people ask whether we will list Pi on Bybit. We haven’t interacted much with this project, but we have conducted basic evaluations, just like with other cryptocurrencies,” Ben Zhou told VnExpress on March 6.Bybit CEO questions Pi Network’s legitimacy, calls it riskier than Meme Coins

Ben Zhou raised concerns about Pi Network’s long delays and questionable value.

⚠️Bybit CEO: "Pi Network is more dangerous than meme coins..."

Bybit founder Ben Zhou believes Pi Network targets people who lack crypto knowledge, creating unrealistic expectations—unlike the meme coin game.

“A lot of people ask whether we will list Pi on Bybit. We haven’t… pic.twitter.com/GUBTGvQTaa

— Pi Network - Open Mainnet (@Pi81Mall) March 9, 2025

“They advertise that you just press a button and get a lot of money. But they don’t explain how the money is made. Many people receive nothing, while there are occasional data leaks,” Zhou said, suggesting Pi Network resembles a Ponzi scheme where latecomers pay for early adopters.

According to Zhou, this makes Pi Network even riskier than meme coins because it targets non-crypto users who lack industry knowledge.

On February 13, Zhou first stated that Bybit would not list Pi, recalling past experiences where elderly investors demanded refunds after losing money. His comments sparked backlash, with some accusing Bybit of being “unqualified” for a Pi listing.

In response, Zhou claimed Pi Network was a scam, arguing that instead of addressing concerns, the project’s supporters attacked him. Pi Network later denied involvement, stating they were impersonated and did not target Zhou on social media. source