Binance Delists Bitcoin SV (BSV) Amid Controversy Surrounding “Satoshi” Craig Wright
Binance has announced that it will be delisting Bitcoin SV (BSV), the crypto that resulted from the November 2018 acrimonious Bitcoin Cash (BCH) hard fork.
The crypto exchange has taken this decision days after the controversy involving BSV’s Craig Wright re-surfaced.
Binance announced its decision to remove BSV this Monday, with the exchange noting that all of the coin’s trading pairs would be off the platform on April 22. After the delisting, Binance users who hold BSV will continue to access withdrawals up to July 22.
The move comes only days after the leading crypto platform’s CEO Changpeng Zhao threatened the action. The Binance chief made the remarks in the wake of Wright’s attacks on some Twitter users who have opposed the Australian’s claim to be bitcoin creator Satoshi Nakamoto.
Zhao had warned that Wright had to stop his aggressive attacks or risk having his coin BSV delisted.
In the Monday announcement, Binance had noted that the move was in line with its periodic reviews involving every listed digital asset. As per the exchange, the reviews are normally aimed at ensuring that all assets continuously comply with set standards.
Some of these standards include the particular coin’s team’s commitment to their project, project activity, level and quality of development. There is also a consideration for the project’s network stability, public communication and overall receptiveness towards due diligence requests.
Weight is also given to project’s overall role in the growth of a strong cryptocurrency ecosystem.
Given the above factors, it appears the delisting of BSV is to a large part related to the controversy surrounding Wright’s claim to be the enigmatic Nakamoto and his criticized attacks on supposed antagonists.
One of those under fire from Wright is a Twitter user by the name hodlonaut- the same individual credited with starting off the Lightning Network “torch”- and who rubbished Wright’s claims.
In fact, Wright took the disagreement a notch higher by announcing a bounty intended to help unmask hodlonaut. He has also secured cease-and-desist orders and sent them to “What Bitcoin Did” podcast host Peter McCormack.
Wright has claimed to be Satoshi on several occasions but has so far not provided proof of his allegations. Zhao took up the thread, noting in a series of posts on Twitter that Craig was a “fraud.”
He continued that if the Australian cryptographer is the person he claims to be, then he could simply prove it by “digitally [signing] any message.”
Following Binance’s decision to delist BSV, a number of other crypto exchanges have taken similar steps. On Monday, crypto-to-crypto exchange ShapeShift announced it would remove the coin within 48 hrs. The platform’s CEO Erik Voorhees said that the exchange supported Binance’s actions.
Another exchange to threaten a similar reaction is Kraken, with a Twitter poll set up to decide BSV’s fate on the San Francisco-based exchange.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.