The Pi Network has hit another milestone as its native cryptocurrency, Pi Coin (PI), is live on yet another exchange—CoinEx.
While this listing is a significant step for the project, it comes at a time when growing concerns over the network’s transparency and funding are gaining more attention.
Pi Coin Now Trading on CoinEx
On 18 March, 2025, PI was live on CoinEx, with deposits and withdrawals being opened at 11:00 UTC and the trading pairs against Tether (USDT) being live at 11:30 UTC.
“After strict inspections, CoinEx will list PI (Pi) on March 18, 2025,” confirmed the exchange in a statement.
With the new listing, Pi Coin is now listed on 12 exchanges, according to Coinranking statistics. However, most of the community are still eagerly awaiting a listing on one of the world’s leading crypto exchanges, Binance.
Despite 86% of the Pi community voting in favor, Binance has not yet made any official statement about a listing plan—causing fear among early adopters.
“Binance not listing Pi, even after 86% vote from community in favor of it, places individuals in a state of uncertainty regarding trust in project,” posted a Pi pioneer on X (formerly Twitter).
Community Demands Transparency on Funding of Pi Network
While the exchange listing is a triumph, Pi Network is now also subject to another wave of stress—this time from within its own community of users. More and more pioneers (Pi Network users) are demanding transparency about how the project is funded.
A recent investigation by a member of the public disclosed that three ventures—137 Ventures, Ulu Ventures, and Designer Fund—allegedly invested in SocialChain Inc., the company that owns Pi Network. However, only one of these investors lists Pi Network in their public portfolio, with questions about transparency and validity.
More bewilderingly, none of the ventures have disclosed the amount of their investments, although they openly talk about funding other projects.
Why is the Pi Core Team covering up the truth under wraps? Transparency is what pioneers deserve,” a user wrote. “If Pi Network wants to have long-term sustainability, it needs to be transparent regarding its financial supporters and strategic partners.”.
Adding to the problems, one of the former co-founders, Vince McPhillip, had previously sued Pi Network, revealing more regarding the project’s fundraising. The lawsuit asserted breach of fiduciary duty, emotional distress, and wrongful dismissal and laid out how Pi Network funded money through SAFE (Simple Agreement for Future Equity) instruments.
The project raised $500,000 in September 2019 at a valuation of $20 million, then an additional $300,000 in February 2020—both under SAFE agreements. However, the community remains dubious since the team has not disclosed detailed financials.
PI Coin Price Drops Amid Continuing Issues
All these scandals are impacting the market performance of PI. In the last week, PI fell by 19.3%, reflecting growing investor nervousness. PI is now valued at $1.10, a 16.5% decrease within only 24 hours, and has dipped in rankings on CoinGecko from 12th to 21st position.
Though the overall crypto market has experienced some drop, the decline of PI has been sharper, indicating the burden of domestic problems on the investor mood.
Community Spirit Still Alive: PiFest 2025 Gains Momentum
Despite the tempestuous news, the community around Pi Network is very lively. Evidence can be seen from the current PiFest 2025 event. The event managed to attract over 100,000 registered merchants globally, and of them, 49,000 active individuals have been listed on the Map of Pi.
The sustained grassroots momentum proves that despite issues raised over the leadership of the project, the broader group of individuals continue to share the same vision of having a decentralized digital economy.
