Binance refuses the listing of Pi Coin: 15% drop and doubts about transparency
- topcryptonews
- Jul 16
- 2 min read
Why did Binance say no to Pi Coin?
The official motivation provided by Binance concerns a series of compliance-related concerns that the Pi Network project has failed to address. In particular, issues related to three key points have emerged:
Absence of third-party audits – Pi Network has not yet subjected its blockchain to independent reviews, a standard now required by all major trading platforms to ensure the security and reliability of the code.
Mainnet closed – Currently, the mainnet of Pi Coin remains inaccessible to the public, preventing a real verification of the decentralization and internal functioning of the network.
Centralized governance – The Pi Foundation maintains direct control over a significant portion of the tokens, without public audits on the wallets or transparency in the management system. This model clashes with the founding principles of modern criptovalute, based on decentralization and distributed governance.
To all this is added another critical point: the Pi Network code is not completely open source. A fundamental requirement in the blockchain world, as it ensures that the community can independently verify every aspect of the protocol and report any vulnerabilities.
The impact on the community: backlash and negative ratings
The response from the community was not long in coming. In a few days, the Pi Network apps saw a surge of negative reviews and declining ratings on Google Play Store and App Store. Many users expressed their frustration both against Binance, accused of excessive closure, and towards the Pi Foundation, guilty – according to a growing part of the community – of a lack of operational transparency.
The missed listing on Binance also has a significant psychological and practical impact: Binance represents one of the exchanges with the highest volume and global visibility. Its exclusion strongly limits the liquidity, visibility, and legitimization of Pi Coin in the eyes of investors.
The Pi Network case: between MLM and lack of transparency
Pi Network has often been criticized for its structure similar to that of an MLM (Multi Level Marketing), especially in some non-European and Asian markets. This classification has also attracted the attention of regulators, fueling suspicions about possible pyramid schemes and the real sustainability of the project in the long term.
While on one hand Pi Network boasts a large global community – with millions of users who have mined Pi through the mobile app – on the other hand, the lack of key transparency elements weighs heavily on the path towards mainstream adoption. In the absence of independent audits, accessible mainnet, and open source code, every statement from the Foundation remains essentially unverifiable.Future prospects: what needs to change for Pi Network
To hope for a future listing on Binance (and on other leading exchanges), Pi Network will have to face a series of structural changes:
Open the mainnet and make it accessible to the community and independent auditors
Undergo public and transparent reviews of the wallets controlled by the Foundation
Make the code completely open source, encouraging community participation in development and security verification
Improve governance by promoting truly decentralized mechanisms for the management of tokens and protocol decisions
Only in this way can PI regain the trust of the market and aim for definitive legitimacy in the crypto landscape.
