Pi Coin has secured a listing on CoinEx, marking another step in its expansion across exchanges. The launch on March 18, 2025, allows users to trade PI against Tether ( USDT ), increasing accessibility for holders. However, the milestone is overshadowed by growing concerns regarding transparency and the long-debated possibility of a Binance listing , which remains uncertain. Despite 86% of the Pi community voting in favor of a Binance listing, the exchange has not confirmed any plans to list PI, raising doubts about the project’s credibility. Some investors question why the project, despite its growing exchange presence, has not yet met the listing standards of major platforms. Community members continue pushing for clarity on Pi Network’s financial backing and regulatory standing. Adding to the controversy, investors are demanding greater transparency regarding Pi Network’s funding sources . An investigation by Pi pioneers revealed that SocialChain Inc., the company behind Pi Network, has received investments from firms like 137 Ventures, Ulu Ventures, and Designer Fund. However, discrepancies were found—two of these investors have not listed Pi Network in their official investment portfolios. Moreover, the amount invested remains undisclosed, raising concerns about financial transparency. Past legal filings provide additional insight into how Pi Network raised capital. A lawsuit by former co-founder Vince McPhillip revealed that the project raised funds by selling SAFE (Simple Agreement for Future Equity) agreements. According to the lawsuit, these agreements were issued in 2019 and 2020 with a valuation cap, allowing the project to secure funding while delaying equity distribution. Despite these past fundraising efforts, the lack of clear financial disclosures continues to fuel skepticism among Pi community members. Meanwhile, Pi Coin has experienced a significant decline in market value, reflecting broader concerns within the community. The altcoin has faced heavy losses, dropping notably in rankings, with declining momentum across exchanges. While the overall cryptocurrency market has seen downturns, Pi’s drop has been sharper than most, adding to uncertainty around the token’s future performance. Despite these setbacks, Pi Network’s community engagement remains strong. PiFest 2025, a major event within the ecosystem, has attracted 100,000 registered sellers globally, with thousands actively participating in the Map of Pi. The initiative showcases continued real-world use of PI tokens, especially in regions like Vietnam and Indonesia, where merchants accept Pi for goods and services. Notably, the Pioneer Korea community has reported a significantly higher consensus valuation for Pi compared to its actual exchange rate. While this reflects strong belief among dedicated users , it also highlights the stark contrast between market valuation and community sentiment. The gap between the two raises questions about the coin’s future stability and adoption. As the project moves forward, investors and users alike are calling for more transparency from the Pi Core Team. Addressing funding concerns, securing stronger exchange listings, and maintaining clear communication with its community will be crucial for Pi Network’s long-term credibility. Whether the project can sustain its momentum amid these growing demands remains to be seen.
