Pi Network Developers Respond to Bybit CEOs Allegations, Are They True?

The developers of the Pi Network (PI) have issued a public statement addressing recent statements made by Bybit CEO Ben Zhou regarding the legitimacy of the Pi project.

The response came after Zhou claimed that Pi would never be listed on Bybit, a statement that was fueled by social media debate and allegations of misinformation.

According to Pi Network, the debate began when an unrelated social media user made a post that drew Zhous ire. Pi Network says online discussions can sometimes lead to misunderstandings and that they are trying to provide accurate information about the situation.

A key point in Pis statement was their statement regarding a recent warning issued by a local police department in China. The warning was reportedly directed at malicious actors falsely claiming to be affiliated with Pi. The developers made it clear that Pi Network has not taken any action regarding the police warning and that they have not been contacted by law enforcement regarding the matter.

Pi has made it clear that there is no relationship between their platform and Bybit or its CEO Ben Zhou. They also explained that they were not asked to complete Know Your Business (KYB) verification for Bybit. Pi Network claims that their project is legitimate, citing its six-year development history and community of over 60 million engaged users.

The developers also addressed the social media account that reportedly attacked Zhou, stating that neither Pi Network nor anyone affiliated with the platform is responsible for these comments. They condemned the individuals involved and reaffirmed that Pi Network has made no statements about Bybit or its CEO on social media or elsewhere.

Despite the criticism directed at Pi Network, the team has maintained a neutral stance regarding Bybit and Zhou. “To that end, other than the comments noted in this article, Pi Network has not made, and continues to maintain a position of not making, any comments regarding Bybit, Mr. Zhou, or their businesses, despite the comments made about Pi,” the statement said.

However, there are allegations that Pi is a pyramid scheme. Bybit CEO Ben Zhou claimed in his statement that Pi Network is a scam.

*This is not investment advice.