Pi Network’s exchange-listing question has been around for years, with Binance and Coinbase still missing from the list. Pi is already available on OKX, Gate, MEXC and Kraken, but access to two of the industry’s biggest exchanges remains uncertain.
The delay is not simply about community demand. Exchanges also have to consider technical audits, compliance, token distribution, regulatory exposure and market risks before adding a high-profile asset.
No Major Listing Yet
Binance held a community vote in February 2025, with around 226,000 votes reportedly cast and 86.8% supporting a PI listing. Despite that result, Binance did not proceed and has made no public listing commitment since.
Coinbase has taken a quieter approach. It has not held a vote or publicly discussed a Pi listing, and there is no visible indication that the token has entered its public listing process.
Bybit, meanwhile, has openly rejected Pi. CEO Ben Zhou called the project a scam in early 2025, referring to a 2023 Chinese police warning. Pi Network disputed the characterization, but Bybit has not changed its position.
What Is Holding Pi Back?
However, neither Binance nor Coinbase has publicly identified these as the reason for keeping Pi off its trading platforms.
Several issues continue to appear in the listing debate:
- Pi’s code is not considered fully publicly auditable by some critics.
- Exchange KYB and compliance requirements remain a concern.
- Questions remain over token concentration and distribution.
- Regulatory risks could make exchanges more cautious.
- Upcoming token unlocks could add further supply pressure.
PI is currently trading around $0.090, while trading volume has dropped 29.89%, showing that market participation remains weak.
What Pi Users Are Saying
The Pi community remains divided. Some users argue that Binance has avoided Pi because the project could become a competitor to the exchange or because its large user base gives it unusual market influence. Others point to KYB requirements and regulation as more practical explanations.
Another group of users takes a different view. They argue that a Binance listing would certainly improve liquidity, visibility and access, but it would not prove that Pi has built a successful economy.
Their argument is simple:
- Users, businesses, developers, applications and real transactions matter more than the exchange name.
- From this perspective, Binance or Coinbase should be treated as milestones rather than the final goal.
New Utility Could Change the Story
There are rumours that Pi Network has also been adding use cases. The rumoured partnership with RoboPay will allow Pi holders to pay for real-world robot services, adding a new application around the emerging machine economy. The Protocol 26 upgrade is another part of the network’s development.
These developments may give Pi more utility, but their longer-term value will depend on actual usage and adoption.
There is still no confirmed timeline from either exchange. A Binance listing would likely improve liquidity and accessibility, while Coinbase could give Pi another major route into the wider crypto market.
But the larger test for Pi remains whether it can turn its huge community into sustained economic activity. For now, the listing question remains open, while utility, adoption, liquidity and trust will determine how far Pi can go beyond simply being listed on another exchange.
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