Pi Coin Listed on CoinEx Amid Credibility Questions

Pi Coin has secured another exchange listing, this time on CoinEx, despite facing growing concerns about its funding transparency. The cryptocurrency's market presence is expanding with its 12th exchange listing, according to Coinranking data.

The addition of Pi Coin to CoinEx comes as the project faces a sharp market decline and mounting pressure from community members demanding financial disclosure. Users can now trade PI against Tether (USDT) on the platform.

Despite this progress, the project's credibility is being questioned due to its failure to get listed on Binance, despite 86% of Pi Network users voting in favor of the move. An investigation revealed that SocialChain Inc., the company behind the project, received investments from three firms: 137 Ventures, Ulu Ventures, and Designer Fund.

The probe highlighted that two of these investors have not included Pi Network in their official investment portfolios, while none have disclosed their investment amounts despite providing such details for other portfolio companies. The Pioneer Korea community has reported a consensus valuation of 1 PI at $50, dramatically higher than current exchange rates.