Pi Network (PI) Now Available for Trading on Bitget Ahead of Official Launch

Millions of users worldwide who have been mining Pi Network (Pi), a controversial meme coin launched by Nicolas Kokkalis, can now trade the token following its official listing on Bitget's spot market.

Pi cryptocurrency, a hotly anticipated token that has been accumulating anticipation for years, is finally set to begin trading on Bitget’s spot market.

According to a press release on Monday, Bitget announced that Pi is now available for user trades through the Pi/USDT pair. This allows users to engage with the token through deposits, trading, and a special airdrop promotion.

As Pi Network prepares for its long-awaited official launch on February 20, Bitget has introduced a promotional campaign to reward traders with additional Pi tokens through a CandyBomb initiative. This event, which began on February 16 and will continue until 4:00 UTC on February 27, has allocated 150,000 Pi tokens to incentivize participation.

During the event, users will have a chance to earn Pi by actively trading the meme coin on the platform. To qualify for the airdrop, users must trade a minimum of 500 Pi tokens and achieve a net buying volume of 2,000 Pi. This entitles them to a guaranteed airdrop of 100 Pi tokens.

Pi Network, before securing a listing on Bitget, has been at the center of multiple controversies regarding its operational structure. Chinese authorities flagged the project, alleging similarities to multi-level marketing (MLM) or pyramid schemes.

In one of the most serious allegations, authorities in the Public Security Bureau of Hengyang City, Hunan Province, went as far as classifying the blockchain project as a scam due to its hierarchical invitation system.

Further complicating its reputation, reports in 2021 surfaced claiming that the project had leaked around 17 gigabytes of personal data from approximately 10,000 Vietnamese users. The breach reportedly exposed sensitive information, including identity card details, home addresses, phone numbers, and email addresses, with a source behind the leak asserting that the data came directly from Pi Network.

However, the Pi Network team strongly denied the allegations, labeling them as false. An internal investigation was conducted, with the project claiming no evidence of a security breach was found.

Mixed Reception as Exchanges Debate Pi’s ListingDespite past controversies, Pi Network is finally making its official debut, and long-time miners are eager to cash out after years of accumulating the token on their smartphones.

However, skepticism within the industry persists. Last week, Bybit CEO Ben Zhou publicly distanced himself from Pi Network, stating that he had no involvement in the project despite growing requests to list the token on his exchange.

At the same time, crypto exchange HTX removed Pi from its platform, announcing that all user holdings would be converted into the USDT stablecoin.

While some exchanges remain hesitant, Bitget and OKX have moved forward with listing the token for trading.

Meanwhile, Binance, the world’s largest crypto exchange, launched a community vote today, allowing users to express their opinions on whether Pi should be listed.

However, Binance clarified that the poll results would not directly influence its decision on the matter. Users with at least 5 USDT in their accounts are eligible to participate in the vote.

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

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