As I wrote last week, I was a bit surprised to learn that Huobi announced they would consider listing Pi tokens on its exchange. I hadn't seen any announcement from Pi about this development; they released their end-of-year press release around the same time, and no mention had been included about any potential exchange listings. But then again, at the time Huobi was just announcing their "consideration," so it didn't seem like any big move was imminent.

Timeline of Pi Network "Listings"

But over the last few days, things have really escalated. XT.com announced on December 28th that they'd be listing Pi on the 29th. Huobi released another statement on December 29th that they'd be listing Pi that very same day as well. Then on January 2nd, news hit that Wrapped Pi had been launched to serve as a bridge between the Pi Network and the BNB Chain. Pretty big moves, eh?

Well, not really. On December 30th, the Pi Network issued a statement on Twitter that these exchange listings are NOT authorized as Pi is still in the enclosed mainnet period.

Pi Network's full statement can be found on their website, with special emphasis on the terms of service to remind "Pioneers" (Pi miners) that any unauthorized trading is grounds for banning users from the project.

What Happens Now?

As of the time of writing this post, it's been several days since Pi has requested that these exchanges remove their listings...but no removals appear to have been done so far. In fact, I'm still getting a bit of a kick out of seeing my Pi in my CoinGecko portfolio artificially inflated this week:

Because I think we have to safely assume that these prices are artificial, and not going to last. Even CoinGecko pops up this warning on the Pi Network overview page:

The Big Question: Why Did This Happen?

The big question that remains for me is simple: why in the world did these exchanges all decide within days of each other to proceed with listing Pi when no official launch had been announced? Is there some sort of leak in the Pi camp that had indicated exchange listings were in fact closer than we had thought? It seems like way too much of a coincidence that several exchanges - regardless of reputation - would all decide to launch the same unauthorized token in such a short time span. It'll be interesting to see how this all plays out.

Disclaimer: I am not a financial advisor. It's your responsibility to do extensive research and consult a professional before investing.

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Valdyr is a "crypto-curious" blogger living in Texas with her husband and their ancient dachshund, Henry. When she's not working as an audio/visual technician or stagehand, you'll frequently find her traveling, hiking or enjoying a good craft beer. For more reading, check out www.laurahofford.com/blog/