Pi Network Listing on Binance? Critics Slam Reckless Community Vote
Nidhi Kolhapur19 Feb 20254 min read
Recently, binance faced criticism after reopening its token listing for community voting and considering adding Pi Network (PI). Critics are questioning Binance Binance Binance is the largest cryptocurrency exchange platform, offering crypto trading with a wide range of cryptocurrencies and tokens, including Bitcoin, Ethereum, Dogecoin, Litecoin, and its own token, Binance coin (BNB). Founded in 2017 by Changpeng Zhao (CZ) and Yi He, it is considered one of the most powerful forces in the global crypto economy, with features such as spot, futures, staking, launchpads, and DeFi integrations. Key Features: An easy interface that allows users to purchase and trade Bitcoin directly with one another. Users can generate and trade numerous sorts of tokens in a simple and user-friendly manner. The Binance platform offers tools for buying, selling, and generating NFTs. Users can send, receive, and store digital assets in a safe cryptocurrency wallet. Educational resources to help consumers learn about blockchain, cryptocurrency, and trade. Monetary transactions allow users to purchase cryptocurrency with credit cards, bank transfers, and payment applications. [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency 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.
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 Changpeng Zhao at Binance Changpeng Zhao, often known as CZ, is a Chinese-Canadian entrepreneur who co-founded Binance, one of the largest cryptocurrency exchanges by trading volume. He was born in 1977 in Jiangsu, China, and later relocated to Canada with his family. CZ studied computer science at McGill University in Montreal. In the early stage of his career, he worked in financial trading technology. He built trading systems for major platforms such as Bloomberg and the Tokyo Stock Exchange, gaining strong experience in high-speed trading infrastructure. Quick Facts: Field Details Full Name Changpeng Zhao Popular Name CZ Birth 1977, Jiangsu, China Nationality Chinese-Canadian Education Computer Science, McGill University Known For Co-founder of Binance Industry Cryptocurrency, Blockchain, Fintech Career Overview: CZ joined the cryptocurrency sector in 2013. During his early years, he worked for Bitcoin websites like Blockchain.com and OKCoin. In 2017, he co-founded Binance. The exchange debuted in July of that year and rapidly became the top cryptocurrency exchange by trading volume. Binance has grown far beyond traditional cryptocurrency trading over the years. The platform currently offers derivatives trading, staking services, and its own blockchain network called BNB Chain. Timeline of Events: 2010 - Worked in financial trading technology, gaining experience in high-frequency trading systems. 2015 - Founded BijieTech, a company focused on crypto-mining software. 2017 - Co-founded Binance and launched the exchange in July. 2021 - Binance expanded globally but withdrew its exchange application in Singapore due to regulatory challenges. 2022 - Binance invested $500 million in Elon Musk’s acquisition of Twitter. 2023 - Binance faced growing regulatory scrutiny across multiple regions. 2024 - Appointed strategic advisor to the Pakistan Crypto Council by the Ministry of Finance. 2025 - Became an advisor to Sadyr Japarov on digital-asset development in Kyrgyzstan. Notable Work & Achievements of Changpeng Zhao: Year Achievement Details 2018 Forbes Crypto Rich List Listed among the richest people in crypto with an estimated net worth of around $1–2 billion 2019 Binance.US Launch Binance expanded to the U.S. with a separate regulated platform 2022 Twitter Acquisition Investment Binance participated in financing Elon Musk’s takeover of Twitter 2024 Pakistan Crypto Council Advisor Helped guide national discussions on crypto regulation 2025 Kyrgyzstan Digital Asset Advisor Advised the Kyrgyz government on blockchain and digital-asset development EntrepreneurInvestorChief Executive Officer (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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