Within just a span of a day, Bitcoin SV (BSV) has leaped headstrong into troubles, starting off with a major cryptocurrency exchange Binance, delisting the token on April 15, two other exchange namely ShapeShift and Kraken also went on to announced the delisting on the same day.
Binanace revealed its decision in an official announcement on April 15. As per the exchange, it will delist and cease trading on all trading pairs for BSV as of April 22, on the exchange under the ticker BCHSV. Binance further elaborated in the post that it regularly reviews assets listed on its platform “to ensure that it [an asset] continues to meet the high level of standard we expect.”
The firm added that it only delists a coin after another in-depth review, noting “[w]e believe this best protects all of our users.” Citing the factors that it takes into account before delisting a cryptocurrency, Binance listed responsiveness to its due diligence requests, level and quality of the coin’s development and “evidence of unethical / fraudulent conduct”.
It was also noted that withdrawals will be supported for the coin until 10:00 a.m. UTC on April 22.
ShapeShift and Kraken Following Suit
As aforementioned, following suit to Binance’s decision ShapeShift and Kraken also decided to drop the cryptocurrency. In a tweet posted on April 15, ShapeShift CEO Erik Voorhees revealed that the company came to a decision to stop listing BSV:
“We stand with @binance and CZ’s sentiments. We’ve decided to delist Bitcoin SV #BSV from @ShapeShift_io within 48 hrs.”
As for Cryptocurrency exchange Kraken, it posted a poll asking whether to drop the coin or keep it for the sake of price discovery.
What Instigated this move
A few says ago Binance CEO Changpeng Zhao (CZ), tweeted a warning that the exchange could delist BSV in response to its creator’s behavior, stating:
“Craig Wright is not Satoshi. Anymore of this sh!t, we delist!”
Wright has been a controversial name from the start due to him infamous claims of being Satoshi Nakamoto, the creator of Bitcoin. CZ’s latest sentiments are purportedly a reaction to Wright’s recent action against Hodlnaut, the Twitter user behind the Lightning Torch initiative.
He has set a $5,000 bounty in BSV for information regarding the identity of Hodlnaut, to which the Twitter community reacted by creating #WeAreAllHodlonaut hashtag, to show support for the now-deleted account.
Read more: LedgerX Files License For Physical Bitcoin Futures With CFTC
Image Source – Bitcoin SV Twitter