Pi Coin Lists on CoinEx Amid Price Drop and Transparency Concerns

Pi Coin (PI) officially launched for trading on CoinEx on March 18, 2025, marking another milestone for the controversial project. The deposit and withdrawal window opened at 11:00 UTC, followed by trading at 11:30 UTC, with PI listed against Tether (USDT). This listing brings Pi Coin’s availability to 12 exchanges, according to Coinranking data. However, despite growing community support, Binance has yet to confirm a PI listing, raising questions about the project’s credibility.

Binance Listing Uncertainty Sparks Concerns

Despite 86% of the Pi Network community voting in favor of a Binance listing, the exchange has not provided any indication of when or if it will list PI. This has fueled skepticism among investors, with many questioning Pi Network’s legitimacy.

“The failure to get listed on Binance, despite overwhelming community support, raises serious concerns about public trust in the project,” a pioneer noted on X.

Pioneers Demand Transparency Over Funding Sources

Amidst the listing excitement, Pi Network is facing growing scrutiny over its funding sources. An investigation by a Pi Network pioneer revealed that SocialChain Inc., the entity behind Pi Network, has received investments from 137 Ventures, Ulu Ventures, and Designer Fund. However, two of these investors have not listed Pi Network in their official investment portfolios, and none have disclosed their investment amounts.

“Why is the Pi Core Team keeping this under wraps? Pioneers deserve transparency. If Pi Network aims for long-term sustainability, the team must be more open about its financial backing and key partnerships,” an X post read.

Adding to the controversy, a lawsuit by former co-founder Vince McPhillip detailed that Pi Network raised funds through Simple Agreements for Future Equity (SAFE). In 2019, the project raised $500,000 at a $20 million valuation, followed by an additional $300,000 in early 2020. Despite these fundraising efforts, the lack of clear financial disclosures continues to raise concerns.

Pi Coin Faces Price Decline Amid Market Uncertainty

PI’s price has taken a hit, shedding 19.3% over the past week. The token fell from 12th to 21st place on CoinGecko rankings, with its price dropping 16.5% in the last 24 hours to trade at $1.1. While the broader crypto market has seen declines, PI’s losses have been more severe.

Despite market struggles, Pi Network’s community engagement remains strong. PiFest 2025 has attracted 100,000 registered sellers globally, with 49,000 active participants on the Map of Pi. Interestingly, the Pioneer Korea community values 1 PI at $50—far higher than its current market price.

Also Read: Pi Network (PI) Struggles as Bearish Momentum Grows, Risks Dropping Below $1.20

As Pi Network navigates these turbulent times, transparency and stronger exchange listings remain crucial for investor confidence.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.