Pi Coin Debuts on CoinEx as Investors Push for Greater Transparency
Pi Coin Secures CoinEx Listing, But Transparency Concerns, Binance Silence, and Market Plunge Raise Alarms
Pi Coin has officially landed on CoinEx, marking another step in its expansion across cryptocurrency exchanges. The listing, which went live on March 18, 2025, enables trading of PI against Tether (USDT), theoretically increasing liquidity and accessibility for holders. However, rather than celebrating, many investors are raising red flags.
The milestone comes amid intensifying concerns over transparency, a prolonged silence from Binance regarding a potential listing, and a drastic decline in Pi Coin’s market value. As excitement over the CoinEx listing wanes, the bigger question looms: Is Pi Network truly on the path to legitimacy, or are investors being left in the dark?
Binance’s Silence Fuels Doubts Over Pi Network’s Credibility
Despite a staggering 86% of the Pi community voting in favor of a Binance listing, the world’s largest exchange has yet to acknowledge any plans to list PI. This continued silence is raising serious doubts about the project’s credibility.
Pi Network has managed to secure listings on multiple mid-tier exchanges, but why hasn’t it met the stringent listing requirements of top-tier platforms like Binance? The lack of clarity surrounding Pi Network’s compliance, financial health, and regulatory standing has left many investors questioning whether the project is as solid as it claims to be.
Mysterious Funding and Unanswered Questions
Concerns over transparency have only deepened following an investigation into Pi Network’s funding sources. Research by Pi pioneers uncovered that SocialChain Inc., the company behind Pi Network, has received investments from venture capital firms such as 137 Ventures, Ulu Ventures, and Designer Fund. However, skepticism is growing as two of these investors have not listed Pi Network in their official investment portfolios, and the actual amount of funding remains undisclosed.
Past legal filings have also shed light on how Pi Network raised capital. A lawsuit filed by former co-founder Vince McPhillip revealed that Pi Network secured funds by selling SAFE (Simple Agreement for Future Equity) agreements in 2019 and 2020. These agreements allowed the project to raise capital without immediately distributing equity. While this is a common fundraising method in the startup world, the lack of clear financial disclosures and ongoing secrecy continue to fuel distrust among investors.
Market Freefall: Pi Coin’s Value in Sharp Decline
Adding to investor concerns, Pi Coin has suffered a significant drop in market value, underperforming even in an already declining crypto market. While many altcoins have struggled in recent weeks, Pi Coin’s losses have been particularly severe, casting further doubt on its long-term viability.
Pi Network’s Community Remains Resilient
Despite these mounting challenges, Pi Network’s community remains highly engaged. The upcoming PiFest 2025 has already attracted 100,000 registered sellers globally, with many merchants in Vietnam and Indonesia continuing to accept Pi for goods and services. The Map of Pi initiative showcases real-world adoption, proving that a passionate base of believers still sees value in the project.
Meanwhile, the Pioneer Korea community has reported a much higher consensus valuation for Pi than its current exchange price, demonstrating strong faith in the coin’s future. However, this stark gap between market value and community sentiment raises concerns about Pi’s long-term stability.
The Road Ahead: Pi Core Team Faces Pressure
With investors demanding more transparency, the Pi Core Team is now under immense pressure to address funding concerns, secure stronger exchange listings, and improve communication with its community.
Can Pi Network prove its legitimacy and regain investor trust, or will it continue to be plagued by secrecy and speculation? The coming months will be crucial in determining whether Pi Coin’s trajectory is one of genuine progress or growing disillusionment.
