Is Bybit CEO Losing the Battle to Pi Network? Pioneers Challenge the Exchange’s #2 Spot

The cryptocurrency world has seen what looks like a power struggle between Bybit CEO Ben Zhou and the growing Pi Network community.

Bybit CEO Ben Zhou has been a vocal critic of Pi Network, going so far as to call it a scam and linking to Chinese police warnings about the network’s allegedly fraudulent activities.

Zhou, whose exchange is currently ranked second on CoinMarketCap, is reportedly against listing Pi on his exchange. He claims that it targets less-informed investors and that it operates like a Ponzi scheme. However, Pi Network has strongly denied these accusations, stating that it has no ties to fraudulent activities and is being targeted by a competitor.

According to reports by crypto news outlet Pi81Mall, Zhou's statements appear to be part of a broader strategy to counter the growing threat of Pi Network to Bybit's position in the market. Since Pi got listed on major exchanges, platforms including OKX, Bitget, MEXC, and Gate.io have seen remarkable increases in traffic, trading volume, and new user signups.

This growth directly threatens Bybit's standing as the second-largest exchange on CoinMarketCap, creating a competitive dynamic that's impossible to ignore.

As Pi Network gains momentum and shifts market dynamics, Zhou is seen trying to control the narrative. Rather than watching Pi dominate headlines and drive users to competitor platforms, he's chosen to concentrate attention on Bybit.

This looks like a calculated PR move in a rapidly evolving market landscape.

Community Reacts to Bybit CEO's Statements

The Pi Network community, however, sees a pattern in Zhou's behavior. According to reports by Pi81Mall, the Bybit CEO is known for making controversial statements to stay afloat in the crypto conversation. Instead of engaging in a healthy competition of innovation and service improvements, they argue he's using classic FUD tactics—spreading Fear, Uncertainty, and Doubt—to slow Pi Network's growing influence in the market.

With a community exceeding 60 million users, Pi Network has one of the largest and most engaged followings in crypto. Bybit recognizes this massive user base as a valuable asset they can’t afford to miss out on. Some speculate that Zhou's public attacks might even be an attempt to pressure Pi Network into listing on Bybit—but on his terms, not theirs.

This conflict isn't because Pi Network is weak—according to the community, it's happening precisely because it's winning. While Bybit tries to defend its market position through criticism, Pi Network continues to expand its footprint, putting increasing pressure on the exchange.

The question remains: Will Bybit eventually reverse course and seek to list Pi token, or continue what Pi supporters see as a losing battle against the network's growing influence?