Pi Network (PI) Cryptocurrency Lists on CoinEx Exchange

Pi Network's cryptocurrency, Pi Coin (PI), has secured another exchange listing with CoinEx, marking a notable milestone for the project.

Pi Network’s cryptocurrency, Pi Coin (PI), has secured another exchange listing with CoinEx, marking a notable milestone for the project.

However, the listing comes at a turbulent time for the project, as pioneers push for clarity on Pi Network’s funding sources.

Pi Coin Listed on CoinEx Exchange

PI officially launched for trading on CoinEx at 11:30 UTC on March 18. The deposit and withdrawal window opened at 11:00 UTC, allowing Pi holders to trade against Tether (USDT).

“After rigorous reviews, CoinEx will list PI (Pi) on March 18, 2025,” the exchange stated in its announcement.

This latest listing adds to Pi Coin’s expanding presence on 12 exchanges, according to Coinranking data.

While the possibility of a Binance listing has been a hot topic of discussion, no official confirmation has yet arrived.

Despite 86% of the Pi community voting in favor of a Binance listing, the exchange has yet to announce if or when it will list PI, fueling concerns about the project’s credibility.

“The failure to get listed on Binance, despite 86% of the community voting in favor, raises serious concerns about public trust in the project,” a pioneer wrote on X.

Pioneers Demand Transparency on Pi Network’s Funding Sources

As concerns surrounding Pi Network continue to rise, the project is now embroiled in another controversy. A growing number of users are calling for transparency about the network’s funding sources.

An investigation by one of Pi Network’s pioneers uncovered that SocialChain Inc., the company behind Pi Network, has received investments from three firms: 137 Ventures, Ulu Ventures, and Designer Fund. However, the investigation revealed a key issue: two of these investors have not included Pi Network in their official investment portfolios.

Furthermore, none of these firms have disclosed the amount of money they have invested in Pi Network despite being forthcoming with investment details for other companies.

“Why is Pi Core Team keeping this under wraps? Pioneers deserve transparency. If Pi Network aims for long-term sustainability, the team must be more open about its financial backing and key partnerships,” the post read.

Notably, a previous lawsuit by former co-founder Vince McPhillip against Pi Network offers additional insight into the project’s funding methods.

The complaint, which covered claims of wrongful termination, intentional and negligent infliction of emotional distress, and breach of fiduciary duty, among others, outlined how the project had raised funds by selling financial instruments called SAFE (Simple Agreement for Future Equity).

According to the lawsuit, Pi Network sold SAFE agreements in September 2019 with a maximum valuation of $20 million. During this fundraising round, the project raised $500,000. A few months later, in February 2020, Pi Network conducted another fundraising round at the same $20 million valuation, raising an additional $300,000.

Despite these fundraising efforts, the lack of clear financial disclosure continues to fuel concerns within the Pi Network community.

Pi Coin Sees Double-Digit Price Decline

Amid these challenges, PI’s price performance has also taken a hit. The altcoin has seen a sharp decline in value, shedding 19.3% of its gains over the past week.

This drop has pushed the coin further down the cryptocurrency rankings, with PI falling from 12th to 21st place on CoinGecko. While the broader cryptocurrency market has also faced a downturn, PI’s losses have been more pronounced.

At press time, PI was trading at $1.1, down 16.5% in the past 24 hours.

However, Pi Network’s community engagement remains strong, evident in events like PiFest 2025. The event has attracted 100,000 registered sellers and 49,000 active participants on the Map of Pi.

Social media posts highlight participation from communities in Vietnam, Indonesia, and other countries, where users exchange goods and services using PI tokens.

In a related development, the Pioneer Korea community has reported a consensus valuation of 1 PI at 50,000 won (roughly $50). Nonetheless, the token is currently trading at around $0.9 on decentralized exchanges in Korea.