Pi Network News Today: 85% of Voters Endorse Binance Listing Pi Coin

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On February 17, Binance launched a community vote, seeking the community’s opinion on listing Pi Network. The ongoing voting process is scheduled to end on February 27. A recent report shows that no fewer than 85% of voters have voted in favour of listing the token. The overwhelming support the token has received in the voting process has triggered serious discussions in the crypto community. Many have come forward with serious criticism against the exchange’s decision to resume its “token listing by community vote” system. The big question is: Is Binance prioritising traffic over security? 

Binance’s Community Vote for Pi Network 

The Binance voting process for the Pi Network listing, which commenced on February 17, has gained immense attention. According to a report, approximately 85% of voters have responded in favour of the listing, creating great excitement among Pi Network enthusiasts. The voting process is scheduled to end on February 27. Notably, there exists no sign to suggest that the trend may be overturned in the coming days. 

Criticism and Concerns Against Pi Network Listing 

Many have come forward, expressing serious concerns about the Binance voting process for the Pi Network listing. Wu Blockchain founder Colin Wu expressed serious disagreement with Binance for its decision to resume its ‘token listing by community vote’ system. 

In fact, it is the first time in seven years that the exchange has employed this controversial community-driven listing system. 

Binance is one of the top exchanges in the world. As of now, its 24-hour trading volume stands at $17,658,076,684. The exchange supports nearly 399 coins and 1362 trading paris.  

Wu explained why it is important for the industry leader to focus more on security than on traffic. 

Earlier, Binance former CEO changpeng zhao changpeng zhao Changpeng Zhao is the Founder and Chief Executive Officer at Binance. His contribution to the enhancement of Binance made the platform the world’s largest cryptocurrency exchange since its inception in 2017. Zhao launched the blockchain network Binance Smart Chain which has made a remarkable contribution to the development of the decentralized finance ecosystem. Whereas in 2019, he launched Binance’s US affiliate, Binance. The US. Details: Organization: Binance Location: United Arab Emirates Skills: Trading System and Electronic Trading Experience: CEO at Binance from Jul 2017 to Nov 2023 · Founder at BijieTech from Sep 2015 to Jul 2017  Head of Development at Blockchain.com from 2013 - 2014 · Partner at Fusion Systems Group  from Nov 2005 to Dec 2013  Head of Tradebook Futures Development at Bloomberg from 2001 - 2005  FAQ 1. What is the net worth of Changpeng Zhao?  Changpeng's net worth is $6,260 crores. 2. What are the latest investments of  Changpeng Zhao? Changpeng Zhao investing in the blockchain sector as well as artificial intelligence and biotechnology   EntrepreneurInvestorChief Executive Officer also expressed concerns about its “token listing by community vote” system, calling it “a bit broken”.

Binance’s Defense and Clarification 

Binance, in a recent post, strongly defended its decision to launch the voting process. However, while indirectly accepting all the concerns raised against the process, it asserted that the voting result will be used only as a reference. 

It emphasised that it has an internal evaluation system to decide whether a coin should be allowed to be listed in its platform or not. 

Other Crypto Exchanges and Pi Network 

At least nine prominent cryptocurrency exchanges have listed Pi Coin so far: MEXC, OKX, Open Network, Bitget, CoinW, Gate.io, GCB Exchange, DigiFinex and LBank.