Breaking: Binance Delists Bitcoin SV (BSV)
Binance Delists Bitcoin SV (BSV)
Last week, a controversy arose regarding Craig Wright, an Australian cryptographer who purportedly is Satoshi Nakamoto, and Hodlonaut, a Bitcoin diehard that created the Lightning Network Torch initiative. At one point, Wright and his peer, Canadian entrepreneur and Coingeek chief Calvin Ayre, tried to serve Hodlonaut with a lawsuit/letter, with Ayre offering $5,000 as a reward for information on the psudonymous figure.
Quickly, many in the crypto community took issue with this attempt to harm Hodlonaut, resulting in a widespread backlash against Wright & Co, who are in the Bitcoin Satoshi’s Vision (BSV) camp. It got to the point where Changpeng Zhao, the chief executive of Binance the world’s largest crypto asset exchange chimed in. On Twitter, the widely regarded industry exec quipped that if “more of this s*it, we delist,” referencing the attempt to uncloak and serve Hodlonaut.
Within minutes, Zhao’s tweet garnered traction across Crypto Twitter.
And just a day or two later after Zhao’s message, Ayre and his team of lawyers looked to bring legal action against industry content creator Peter McCormack. Now, it seems that Binance lived up to its promise. In a blog post published just minutes ago, the exchange revealed that it will be delisting Bitcoin SV by April the 22nd, meaning that traders will need to withdraw their BSV by that date.
The post cited an array of factors, including “Commitment of team to project, Level of public communication, Evidence of unethical / fraudulent conduct, and Contribution to a healthy and sustainable crypto ecosystem,” as a way to back its removal of the cryptocurrency.
As this news broke, BSV collapsed. As of the time of writing this, the asset is down 7.2% on the day, falling to $65 apiece, in a green market. Interestingly, Binance wasn’t BSV’s largest market, but it is widely agreed on that this delisting is a large blow to the project’s reputation.
Community Applauds CZ
It is fair to say that the crypto community is absolutely in love with this move. Commentators from Udi Wertheimer and Luke Martin to Parabolic Trav, Nic Carter, and Rampage all cheered Binance on.
An interesting stress test for any cryptocurrency is to imagine what would happen to it if a major exchange stopped trading it. A good measure of robustness/decentralization. Anyway, not looking good for $BSV https://t.co/YPfiUpiNm0— Joe Weisenthal (@TheStalwart) April 15, 2019
Title Image Courtesy of Marco Verch
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