As Pi Network gears up for its long-anticipated Mainnet launch on February 20, the project is once again facing backlash—this time over restrictions on trading in certain regions. OKX, one of the key exchanges set to list PI, confirmed that some countries, including mainland China, might not have access to trading or deposits.
OKX Clarifies: Restrictions Came from Pi Network
In response to growing concerns, OKX distanced itself from the decision, stating that the trading restrictions were imposed by Pi Network itself. While OKX has yet to confirm the full list of affected regions, the uncertainty has fueled frustration among Pi Network miners, many of whom have been waiting for years to cash out their holdings.
The move has left some users questioning the project’s original vision. Pi Network has long branded itself as an inclusive financial ecosystem, yet these restrictions appear to contradict that promise.
Community Backlash: “A Red Flag for Liquidity”
Critics and supporters alike are debating the impact of Pi Network’s isolated listing strategy. One vocal critic on X (formerly Twitter), “FOMO HUNTER,” highlighted concerns over market liquidity, stating:
“Isolated listing mode is a red flag for liquidity and access. Always question the impact on trading volume and market dynamics. Strategy over speculation.”
This latest controversy adds to Pi Network’s long history of delays and criticisms, particularly regarding its slow Know-Your-Customer (KYC) process and lack of transparent communication.
Pi Network Faces Growing Credibility Concerns
Skepticism around Pi Network isn’t new. Earlier this week, ByBit CEO flatly rejected calls to list the PI coin, calling it ‘the last thing he wants to deal with’. Many in the crypto space argue that if Pi Network were truly ready for its Mainnet debut, top-tier exchanges would be lining up to list it—yet interest from major platforms remains lukewarm at best.
Market Impact: PI (IOU) Price Drops After Initial Surge
Following the announcement of Pi Network’s Open Network launch, the PI (IOU) price soared past $93 on February 12. However, as concerns over the project’s credibility grew, PI quickly tumbled to $61.28, wiping out double-digit gains.
Pi Network has yet to address OKX’s claim that the listing restrictions came directly from them, leaving investors and miners in limbo just days before the anticipated launch.
With the Mainnet debut looming, questions remain: Can Pi Network overcome the mounting skepticism, or will this latest controversy further erode confidence in the project?
