World’s largest crypto exchange Binance hit with one-star reviews as Pi Network supporters protest lack of listing
Binance Faces Community Backlash and Rating Drop After Refusing to List Pi Network
Binance, the world’s largest cryptocurrency exchange by trading volume, has faced a significant backlash from supporters of the Pi Network following its decision not to list the token. The protest has manifested in a wave of negative reviews on both Google Play and the Apple App Store, severely affecting the platform’s public ratings.
Between February 17 and February 27, Binance conducted a public poll through its Binance Square platform, asking users whether they supported the listing of Pi Network's native cryptocurrency. Over 85% of respondents expressed support for the listing. However, Binance later clarified that the poll was conducted for informational purposes only and that the results were “not final” nor a commitment to action.
The exchange emphasized that any listing decision must go through a stringent due diligence process. According to Binance, this includes an evaluation of project fundamentals such as the quality of the team, the technological innovation behind the project, market demand, use cases, and overall security and regulatory compliance.
Despite this clarification, Pi Network supporters took to social media platforms including Facebook and X (formerly Twitter), urging others to rate the Binance app with one star in protest. One prominent post in a Pi Network Facebook group with over 135,000 members encouraged users to take direct action by lowering the exchange's app ratings, accusing Binance of "disrespecting the Pi Network project." The movement quickly gained traction.
As of early April, Binance’s rating on Google Play had fallen from 4.9 to 3.8 out of 5, with more than 2.86 million reviews. On Apple’s App Store, the rating dropped from 4.8 to 4.2 out of 5, with approximately 12,400 user reviews. Many of the new one-star ratings accused Binance of manipulating user interest in Pi Network to drive app downloads or deposits, despite having no intention of listing the token.
According to Hoang Anh, an administrator of a Pi Network community group with more than 150,000 members, much of the frustration stems from a misunderstanding. Many Pi enthusiasts believed that the poll was a decisive step toward listing the token and felt misled when no such listing occurred. “Feeling deceived, the only way for them to express their anger was through one-star ratings,” he said.
Cryptocurrency investor The Thanh added that tokens with strong community backing, such as Pi Network, often see a surge in demand and value once listed on major exchanges. He speculated that some of the backlash may have come from users who already own Pi coins, acquired through smaller platforms or peer-to-peer channels, hoping to push Binance into a listing through public pressure.
This incident is not the first time that a crypto exchange has faced organized backlash from the Pi Network community. In a similar case, Dubai-based exchange Bybit saw its app rating on Google Play fall from 4.7 to 2.8 after its CEO issued warnings suggesting Pi Network may be a scam.
Analysts believe Binance’s hesitation may be due to legitimate concerns. While Pi Network has launched its mainnet after nearly six years in development, several experts have highlighted that it still lacks basic blockchain features such as smart contracts and publicly accessible open-source code. Furthermore, the identities of the project’s full development team remain largely undisclosed, aside from founders Nicolas Kokkalis and Chengdiao Fan, who are both Stanford-educated.
There are also broader questions about the decentralization of Pi Network. Unlike most blockchain-based projects, Pi’s mainnet nodes are currently all operated by the core development team. A blockchain analyst quoted by CoinTelegraph pointed out that the network’s structure contradicts its claims of decentralization. While Pi Network has stated that decentralization is a long-term goal, the current centralized setup has raised concerns about transparency and trust.
On the technical front, Pi Network runs on the Stellar Core framework. Although newer versions of Stellar support smart contract functionalities, Pi Network is still operating on an older version that lacks these features. Blockchain developer Nguyen Viet Dinh noted that the project may soon upgrade to version 22.1, which would enable broader functionality and possibly bring the project more in line with industry standards.
The campaign of negative reviews has triggered concern among some Pi supporters, who worry that such tactics may do more harm than good. “Not only Binance, but other exchanges may also hesitate to engage with the Pi Network community if they fear similar backlash,” said Hoang Anh. “Ultimately, missing out on Binance could hurt the Pi project more than it benefits it.”
Founded in 2017, Binance quickly rose to become the leading cryptocurrency exchange globally, with daily trading volumes nearing US$22 billion and over 13.6 million weekly visitors, according to CoinMarketCap.
Meanwhile, Pi Network, launched in 2019, began as a mobile-first mining app that allowed users to earn Pi by simply tapping a button once a day. While the project attracted massive interest in countries like Vietnam, it has also been criticized for delays and a lack of transparency. On February 20, Pi Network finally opened limited trading access, allowing users to transfer their Pi holdings to exchanges, although listings remain scarce on major platforms.
Whether Binance ultimately lists Pi Network remains uncertain. But the recent backlash highlights the delicate relationship between crypto exchanges and the communities they serve—and the consequences that can arise when expectations are not aligned.
Source: e.vnexpres
