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coinpedia 2025-02-19 11:39:35

Binance Faces Criticism Over Pi Network Listing Vote: Risks & Reactions

Binance Faces Criticism Over Pi Network Listing Vote: Risks & Reactions

The post Binance Faces Criticism Over Pi Network Listing Vote: Risks & Reactions appeared first on Coinpedia Fintech News Recently, binance faced criticism after reopening its token listing for community voting and considering adding Pi Network (PI). Critics are questioning Binance Binance - binance@miceneurol.com Centralised Exchange Cryptocurrencies Trading App Cryptocurrency investment priorities and the potential risks involved. Recently, Binance kicked off a community vote to decide whether Pi Network should be listed on the exchange. This marketing-driven poll gives users a chance to share their thoughts on the listing. Voting closes on February 27. With 85% of voters in favor, just a day before its mainnet launch, the project is gaining impressive momentum and attention in the crypto community. 用户您好， 非常感谢您的关注。根据相关要求，我们在“币安社区投票”的简体中文公告中已标注，包括但不限于居住在中国大陆等国家或地区的用户将不计入有效投票结果。活动结束时，我们将剔除不符合条件或来自不适用地区用户的投票以及违反条款和条件的投票后，宣布最终有效投票数。… pic.twitter.com/cFbRe2C4pp — Binance Customer Support (@BinanceHelpDesk) February 18, 2025 Despite strong support, some, like Colin Wu, founder of Wu Blockchain, have criticized Binance’s decision. He raised concerns about the platform reviving community-driven listings after a seven-year break. “I originally thought OKX was already playing it risky, but Binance took it even further with PI,” he said. Binance’s Reputation At Stake? Wu argued that Binance’s focus on attracting traffic and new users with high-risk tokens could compromise its reputation and responsibility to maintain security. This isn’t the first time Binance has faced criticism over its listing process. Former CEO Changpeng Zhao (CZ) recently called the process “a bit broken.” Wu also warned that listing Pi could pose serious risks to the vulnerable Chinese-speaking community. Binance, however, defended its stance by clarifying that not all votes would be considered valid, indicating they would carefully evaluate the voting process before making any decisions. “Votes from users reported in certain countries or regions, including but not limited to mainland China, will not be counted as valid,” the post read. Experts Remain Skeptical Notably, votes from ineligible regions, users who don’t meet the criteria, or those violating Binance’s terms will be excluded from the final count. It also emphasized that while voting results are considered, an internal evaluation will decide whether Pi Network gets listed. While several other centralized exchanges have also announced Pi coin listings, many industry experts remain skeptical, citing legal and listing risks.

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