Why hasn't Binance listed Pi coin yet?

Pi cryptocurrency has appeared on several exchanges such as MEXC, Bitget and OKX since February 20, 2025. However, as of March 7, 2025, Binance has not listed Pi despite many discussions and expectations from the community.

Based on recent information and analysis, there are several key reasons why Binance has not made this decision:

Not meeting technical and transparency standards

Blockchain experts point out that, although Pi Network has been "open network" since February 20, 2025 after 6 years of development, it has not yet published smart contracts and open source code. These are the minimum elements that a cryptocurrency project needs to be considered for listing by major exchanges like Binance. In addition, Pi's blockchain network is not completely decentralized, with mainnet nodes still controlled by the Pi core team, which raises doubts about the project's transparency and commitment to decentralization.

Lack of clear information about the development team

The team behind Pi Network has not disclosed its full identity, with only two members known to be Nicolas Kokkalis and Chengdiao Fan, who are described as PhDs from Stanford University. This lack of transparency makes it difficult to verify the quality of the project, raising concerns for major exchanges like Binance, which have strict due diligence processes.

Caution after controversy and public pressure

Binance held a community vote from February 17 to February 27, 2025 to solicit opinions on listing Pi, with 87.1% (202,547 votes) in favor. However, the exchange emphasized that the results were for reference only, and the final decision depended on internal evaluation. After the vote, Binance was attacked by the "Pi fan" community with a "1-star storm" on Google Play and Apple App Store for not listing Pi immediately. This may have made Binance more cautious to avoid reputational or legal risks.

Legal and regulatory risks

In many countries, including Vietnam, cryptocurrencies like Pi are not recognized as legal tender or a means of payment. As the world's largest exchange, Binance must comply with strict regulations in various markets. Listing a controversial project like Pi could invite increased regulatory scrutiny, something Binance wants to avoid after recent criticism over its listing of high-risk memecoins.

Floor strategy

Some community opinions suggest that Binance may be holding back to 'stock up' or wait for the right time when Pi is more stable in value and liquidity. However, this is just speculation and there is no solid evidence. In fact, Binance has been criticized for listing coins with potential price manipulation early, so they may be taking a slower approach with Pi.

Overall, it can be said that Binance has not listed Pi Network mainly because this project has not fully met the technical, transparency and legal standards required by the exchange, along with Binance's caution in the face of community pressure and potential risks. Although the Pi Network community is very much looking forward to it, the final decision is still in the hands of the Binance team and depends on the further development of Pi.

Kareem Winters

Update 11 March 2025