
Recently, binance faced criticism after reopening its token listing for community voting and considering adding Pi Network (PI). Critics are questioning Binance
Binance - [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment priorities and the potential risks involved.ย
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 Binanceโs decision. He raised concerns about the platform reviving community-driven listings after a seven-year break. โI originally thought OKX was already playing it risky, but Binance took it even further with PI,โ he said.
Binance’s Reputation At Stake?
Wu argued that Binanceโs focus on attracting traffic and new users with high-risk tokens could compromise its reputation and responsibility to maintain security. This isnโt the first time Binance has faced criticism over its listing process. Former CEO changpeng zhao
changpeng zhao Changpeng Zhao, populalrly known as CZ, is a Chinese-Canadian businessman. He founded Binance, the biggest cryptocurrency exchange in the world based on trading volume. CZ came across Bitcoin (BTC) in 2013 from a friend. Full Name Changpeng Zhao Birth 1977 in Lianyungang, Jiangsu, China Nationality Chinese-Canadian, UAE Education BSc. from McGill University Marital Status Married to Yang Weiqing Famous For Binance, Advocate for decentralized finance, blockchain tech. Net Worth $59.4B (refer for realtime) Before starting Binance in 2017, he was the Head of Development at Blockchain.info and the Chief Technology Officer (CTO) at OKCoin. Under CZ, Binance launched an ICO (Initial Coin Offering) that raised $15 million and rapidly became the largest exchange within months.
To improve trading options, the firm introduced Binance Smart Chain (BSC), Binance Labs, Binance Academy, Binance Launchpad, and other blockchain-based solutions. CZ has influenced the global adoption of crypto by offering regulatory compliance, DeFi solutions, and infrastructure for digital assets.
CZ’s Career Timeline Tokyo Stock Exchange (2001–2003) – Developed trading systems for financial institutions.
Bloomberg Tradebook (2003–2005) – Worked as a software developer for high-frequency trading systems.
Fusion Systems (2005–2013) – Co-founded this financial technology firm specializing in ultra-low-latency trading solutions.
Blockchain.info (2013–2014) – Served as Head of Development, working with early Bitcoin adopters like Roger Ver and Ben Reeves.
OKCoin (2014–2015) – Worked as Chief Technology Officer (CTO) at one of the largest fiat-to-crypto exchanges at the time.
Binance (2017–2023) – Founded Binance and led it to become the world's largest cryptocurrency exchange before stepping down as CEO in 2023. Awards and Recognizations List of achievements
Year Bloomberg 50 – Most Influential People in Finance
2021 Forbes Crypto Rich List – Billionaire Status
2022 Top 10 Most Influential People in Crypto (CoinDesk)
2022 Binance – World’s Largest Crypto Exchange by Volume
2018-23 There were regulatory issues in some countries about crypto. However, CZ continued to support decentralization, financial freedom, and innovation in the cryptocurrency industry. After reaching an agreement with U.S. regulators over compliance violations, in 2023, he resigned as CEO of Binance.
Useful Links X (formerly Twiter) https://twitter.com/cz_binance? Instagram CZ_Binance (@changpengzhao) LinkedIn Changpeng Zhao - Binance | LinkedIn 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.
โVotes from users reported in certain countries or regions, including but not limited to mainland China, will not be counted as valid,โ the post read.
- Also Read :
- Pi Networkโs Mainnet Launch Sparks Massive Hype: Record Searches & Exchange Listings
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Experts Remain Skeptical
Notably, votes from ineligible regions, users who don’t meet the criteria, or those violating Binanceโs 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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