Bitget Lists Pi Network on Spot Market Amid Ongoing Controversy

Millions of Pi Network users have finally gained a trading avenue as Bitget officially lists the Pi/USDT pair. However, concerns surrounding the project’s legitimacy persist, clouding its adoption in the wider crypto industry.

Bitget Opens Pi/USDT Trading and Rewards Users

Crypto exchange Bitget has introduced Pi Network (Pi) to its spot market, allowing users to trade the controversial token against USDT. The exchange made the announcement on Monday, February 17, revealing that deposits, trading, and a promotional campaign are now live for Pi traders.

To incentivize participation, Bitget has launched a two-week promotional event called “CandyBomb,” allocating 150,000 Pi tokens as rewards. The campaign, which began on February 16 and will run until February 27, offers users the opportunity to earn Pi tokens through active trading.

Pi Network’s Official Launch Set for February 20

The listing on Bitget comes just days before Pi Network’s much-awaited official launch on February 20. For years, the project has operated as a mobile mining platform, promising eventual blockchain integration.

Users worldwide have been mining Pi through their smartphones, but the lack of a fully operational mainnet has raised skepticism. Many critics argue that without blockchain verification, the token remains speculative, with no concrete value outside controlled exchanges.

Despite its listing on Bitget and a few other platforms, Pi Network remains absent from major exchanges like Binance and Coinbase. Industry leaders have hesitated to list the token, citing unresolved concerns over its functionality and transparency.

Controversies Continue to Haunt Pi Network

Pi Network has faced repeated scrutiny over its structure and legitimacy. Chinese authorities have previously warned against the project, likening it to multi-level marketing (MLM) or pyramid schemes. The hierarchical invitation system required to mine Pi has drawn comparisons to questionable financial models.

• In 2021, the Public Security Bureau of Hengyang City, Hunan Province, labeled Pi Network as a potential scam.
• The project has yet to provide clear documentation proving its decentralized blockchain infrastructure.
• Some crypto analysts argue that Pi’s prolonged pre-launch phase raises red flags about its viability.

Adding to these concerns, reports from 2021 revealed a major data leak involving 10,000 Vietnamese users. Around 17 gigabytes of personal data—including ID card details, phone numbers, and home addresses—were allegedly exposed. This incident fueled further skepticism over Pi Network’s security protocols and user data management.

Will Pi Network Gain Widespread Adoption?

While Pi Network boasts millions of users worldwide, mainstream adoption remains uncertain. The project’s ability to transition from a mobile mining model to a fully functional blockchain ecosystem will determine its success.

So far, the following factors continue to influence its adoption:

Bitget’s listing could provide Pi Network with a much-needed boost in credibility. However, without further validation from major exchanges and regulatory clarity, skepticism is unlikely to fade.

For now, Pi traders on Bitget will have access to the token, but the long-term prospects of the project remain up for debate. The February 20 launch may offer more clarity, but for many in the crypto industry, Pi Network’s story is still far from over.