No.

Hot water pipes get no where near hot enough to start a fire.

More likely to get fire from frayed / improper electrical.

Combustion of paper begins at 451 degrees Fahrenheit.

thanks, appreciate it

Almost always simpler and more effective to insulate the basement walls. Considering all the intrusions in the joist spaces, a "flash" of closed cell spray foam would be much more effective.

If you're persisting with batts, wrapping all the water pipes with slip-on polyethylene foam insulation will prevent condensation on the pipes and the subsequent mould growth in the batts.

@worthy is correct. However if you have open combustion appliances then sealing up the space could be an issue. If you do use the batt insulation, make sure you seal all of the holes and penetrations for wires first otherwise air will pass right thought the insulation.

@Franco Oyuela Good points- however give credit to the original author. https://bethepro.com/avoiding-basement-insulation-mistakes/