Pi Network Price Under Pressure as OKX & Gate.io Consider Possible Delisting

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Pi Network’s native token Pi coin is under new pressure after China’s top financial groups warned against illegal crypto activities and directly named Pi Coin as a risky asset. This has also increased fears that exchanges may delist Pi and that a future Binance listing is unlikely.

Meanwhile, Pi price dropped another 7% this week to around $0.22, now down 92% from its all-time high.

Pi Network: China Labels Pi Coin a High-Risk Asset

According to a joint notice issued by seven national associations, including the China Internet Finance Association, regulators warned the public about projects that promote virtual currencies without real value or technology.

The statement clearly mentioned Pi Coin, calling it an “air coin,” a term China uses for tokens that lack transparency, utility, or proven backing.

According to the regulatory notice, projects like Pi Network have been associated with frequent scam activities, raising concerns about investor protection and financial stability.

However, authorities also reminded everyone that virtual currencies do not have legal tender status in China, as they cannot be used inside the country, and are not allowed for payments or investments.

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Binance Listing Fades, Even Pi Could Delist From Listed Exchange

The new warning from China is already causing problems for Pi Coin on exchanges. Some platforms that allow people to trade Pi are now thinking about removing it, because they don’t want to get into trouble with regulators. 

Market experts say a strong regulatory backlash in China makes it impossible for major exchanges like Binance, one of the world’s largest exchanges, to consider listing Pi Coin.

Some exchanges that have already listed $Pi may delist $Pi spot trading soon. Followers, please be aware of the risks! Please see my latest tweets for details.