Justin Sun, the CEO of Huobi, has come out publicly to defend the listing of the IOU, months after the Pi Core Team criticized the listing of Pi Coin by Huobi, one of the most Centralized Exchanges, without consent.
In a recent exclusive interview, Justin Sun, the founder of Huobi, spoke out about the controversy surrounding Pi Coin and the unauthorized listing of Pi coins on his exchange. Sun defended his actions, saying that the community should evaluate the success or failure of a project, and that all content should be given an equal stage.
Pi Coin, which claims to be mobile-minable, has yet to be launched on the mainnet. Despite this, Huobi took the lead in launching Pi Coin last December, listing it on their exchange without official permission. This move sparked a heated debate in the cryptocurrency community, with some questioning the legitimacy of Pi Coin and others criticizing Huobi for listing a coin without official approval.
In response to these criticisms, Sun argued that it was not his place to comment on the quality of a project, and that the community should be the ones to evaluate its success or failure. He emphasized the importance of giving new projects an equal stage, allowing them to be freely displayed and evaluated by the community.
Sun also addressed the issue of the Pi coins issued by Huobi, which are still not listed on the mainnet. He confirmed that there are real reserves behind them, but that there is currently no way to successfully transfer them. He explained that Huobi has been buying Pi coins directly from large community members who are mining, in hopes of supporting users’ transactions as soon as they are launched on the mainnet.
The controversy surrounding Pi Coin and Huobi’s unauthorized listing of Pi coins on their exchange is likely to continue, but Sun’s comments provide some insight into his perspective on the issue. He emphasized the importance of community evaluation and equal opportunities for new projects, while also acknowledging the challenges of launching a new cryptocurrency. As the cryptocurrency industry continues to evolve, it remains to be seen how Pi Coin and other new projects will fare in the competitive landscape.
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