Pi Network Founder Attends Consensus 2025 Amid Ongoing Criticism from Bybit CEO
Controversy continues to surround Pi Network, a mobile-first cryptocurrency project with over 60 million engaged users, following recent remarks by Bybit CEO Ben Zhou, who labelled the project as a "scam" and "even more dangerous than memecoins." However, in a curious twist, Zhou himself is not listed among the speakers at Consensus 2025, one of the world’s largest and most respected blockchain and cryptocurrency conferences.
In contrast, the founder of Pi Network, Dr. Nicolas Kokkalis, is set to participate in this major global event, sparking discussions about credibility, visibility, and the future direction of Web3 ecosystems.
Controversial Remarks and Industry Pushback
Zhou’s comments, which circulated widely on social media and crypto forums earlier this month, took direct aim at Pi Network’s operational model. He criticized its long-running enclosed mainnet phase, its use of a mobile mining app, and its lack of traditional token listings on centralized exchanges. His statements echoed long-standing skepticism among some industry veterans who question Pi’s unconventional approach.
“Projects like Pi Network are giving the industry a bad name. It’s even more dangerous than most memecoins because it masks itself as something serious while providing no actual value or liquidity,” Zhou reportedly said during a livestreamed interview.
However, Zhou’s sharp critique appears to contrast with his absence from Consensus 2025, an event that regularly features the leading voices in blockchain innovation, finance, regulation, and technology. This absence has led some observers to question whether his influence matches the weight of his criticisms.
Pi Network’s Presence at Consensus 2025
Meanwhile, Dr. Nicolas Kokkalis, the Stanford-educated computer scientist behind Pi Network, is confirmed to attend Consensus 2025 as a speaker. According to the event’s official agenda, Kokkalis will be part of a panel discussion titled “Decentralization in the Age of Mobile: Breaking Barriers for the Next Billion Users.” His participation underlines the growing recognition of Pi Network’s role in expanding crypto access, particularly in developing regions where smartphone-based solutions are gaining ground.
With the conference taking place in Austin, Texas, Consensus 2025 is expected to draw over 15,000 attendees from across the globe, including investors, developers, regulators, and blockchain entrepreneurs. For Pi Network, this moment represents not only a counter to criticism but also a platform to articulate its vision for inclusive financial systems powered by mobile-first blockchain technology.
Perception vs. Reality: A Divided Industry
The clash between Zhou and the Pi Network community highlights the ongoing rift in the crypto industry regarding what constitutes legitimacy and innovation. While some adhere to traditional models of token launch strategies and exchange listings, others like Pi Network prioritize user base development, ecosystem readiness, and a phased approach to mainnet rollout.
Despite skepticism, Pi Network has built a robust community of Pioneers—users who validate and mine Pi via a mobile app. As of April 2025, more than 60 million users globally have downloaded the app, with many participating in a growing ecosystem of applications through the Pi Browser.
Proponents argue that this grassroots approach is not only revolutionary but necessary to onboard the next wave of global crypto participants. Critics, however, remain doubtful, citing the lack of exchange liquidity and unclear governance structures.
Public Reaction and Community Resilience
Ben Zhou’s comments were met with immediate backlash from the Pi Network community, with many calling the remarks “uninformed” and “premature.” Social media lit up with comparisons between Pi’s user-first mission and the speculative nature of memecoins, which often see rapid boom-and-bust cycles.
“Calling Pi a scam while ignoring its real-world ecosystem, developer community, and academic foundations is misleading,” said one prominent Pi developer in response. “We’re building something that solves real-world problems, not just trading digital hype.”
Furthermore, Pi’s presence at an event like Consensus may provide the transparency and visibility that critics claim the project lacks. Panels, workshops, and keynote sessions at the event are expected to focus on themes like financial inclusion, sustainable DeFi, and the infrastructure of the Open Web—areas that align closely with Pi Network’s stated objectives.
Industry Implications and the Path Ahead
The divergent treatment of Pi Network by established exchange leaders versus global events like Consensus highlights a broader debate in the crypto space: Who gets to define legitimacy? Is it the centralized exchanges with millions of dollars in trading volume, or is it the millions of users adopting blockchain through low-barrier applications?
Bybit’s stance may reflect a more conservative outlook on market operations, focused on liquidity, tokenomics, and short-term tradeability. Pi Network, on the other hand, emphasizes gradual decentralization, grassroots adoption, and ecosystem growth prior to open trading. These philosophical differences may ultimately shape the future of blockchain adoption strategies.
Whether one views Pi Network as disruptive innovation or unwarranted experimentation, its visibility at Consensus 2025 cannot be ignored. It signals that key players in the industry are willing to engage with projects that push beyond conventional crypto frameworks.
Conclusion
While Bybit CEO Ben Zhou has made strong public statements against Pi Network, his absence from Consensus 2025 contrasts sharply with the presence of Dr. Nicolas Kokkalis and his team. As one of the world’s premier blockchain events, Consensus serves as a stage for thought leaders and builders—not just critics.
As the industry evolves, projects like Pi Network challenge traditional paradigms and force the crypto community to re-examine what adoption, decentralization, and financial empowerment truly mean. Whether through criticism or participation, they remain at the centre of the global conversation shaping the future of Web3.
Source: hokanews.com
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