Pi Coin Listed on CoinEx, Yet Binance Remains Silent – What’s Next?

Pi Coin (PI) has been listed on the coinex coinex - Centralised Exchange exchange, marking an important step for the project. The listing took place on March 18, 2025, at a time when Pi Network is under increased scrutiny over its funding sources. Trading for Pi Coin began at 11:30 UTC, with deposits and withdrawals opening earlier at 11:00 UTC. Pi holders can now trade PI against Tether (USDT).

“After rigorous reviews, CoinEx will list PI (Pi) on March 18, 2025,” the exchange announced.

With so much happening, where does Pi Network go from here? Let’s take a closer look.

Will Binance List Pi Coin? Community Waits for an Answer

With this new listing, Pi Coin is now available on 12 exchanges, according to Coinranking data. However, there is still no confirmation from Binance. Despite 86% of the Pi community voting in favor of a Binance listing, the exchange has not confirmed if or when it will add PI. This has raised concerns about the project’s credibility.

Community Grows Frustrated

Pi Coin has dropped to 13th place in the CoinMarketCap rankings, with its price falling below $1.3. Many believe this decline is linked to public sentiment.

“The failure to get listed on Binance, despite 86% of the community voting in favor, raises serious concerns about public trust in the project,” a user commented on X.

He also pointed out the lack of major announcements on Pi Day, calling it a disappointment.

At the same time, many early Pi miners are becoming increasingly vocal about their frustration with the Pi Core Team. They argue that after six years of development, the project has not made real progress. To regain trust and prevent further decline, they suggest that the Pi Core Team should:

• Release the Pi Open Mainnet Roadmap
• Launch the promised 100 decentralized applications (DApps)
• Provide details about investors and key stakeholders

Pi Network’s Funding Under Question

A recent investigation by a Pi Network pioneer revealed that SocialChain Inc., the company behind Pi Network, received investments from three firms—137 Ventures, Ulu Ventures, and Designer Fund. However, two of these firms do not list Pi Network in their investment portfolios, leading to further speculation about the project’s funding.

As a result, the community is demanding greater transparency regarding investors and financial backers.

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Lawsuit Sheds Light on Pi Network’s Fundraising

A lawsuit filed by former co-founder Vince McPhillip has raised new questions about how Pi Network raises money. The lawsuit, which includes claims of wrongful termination, emotional distress, and breach of fiduciary duty, revealed that Pi Network sold SAFE (Simple Agreement for Future Equity) agreements to raise funds.

In September 2019, Pi Network raised $500,000 at a $20 million valuation, followed by another $300,000 in February 2020 at the same valuation. However, the project has not provided clear financial disclosures, adding to concerns within the Pi community.

Pi Coin Dips as Token Unlock Approaches

The ongoing issues have taken a toll on Pi Coin’s price. Over the past week, PI has dropped 19.3%, falling from 12th to 21st place on CoinGecko. It is now trading at $1.1, marking a 16.5% decline in the last 24 hours.

One of the main reasons for Pi Coin’s price drop is the upcoming token unlock event. Around 129 million Pi tokens, worth about $175 million, are set to be released into circulation. This increase in supply has worried investors, as it could put more pressure on prices.

Despite these challenges, the Pi Network community remains active. The platform has over 100,000 registered sellers, and 49,000 people participated in PiFest 2025. This shows that, despite setbacks, the project still has a strong following.

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