The recognized cryptocurrency exchange Binance took the decision to delist Bitcoin SV (BSV) from its trading platform. This comes after the CEO of the platform Changpeng Zhao threatened with delisting the digital asset. Last week, Craig Wright has been involved in a legal dispute with the Bitcoin (BTC) supporter Hodlonaut. The information was released by Binance a few hours ago in an official blog post.
Binance Delists Bitcoin SV
Binance informed that they delisted Bitcoin SV from its trading platform. The exchange wrote that they periodically review each of the assets they have listed in order to ensure they meet the high level of standard they expect.
On the matter, Binance wrote:
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protect all of our users.”
Some of the factors that the exchange takes into account include Commitment of the team to the project, level and quality of the activity behind the coin, level of public communication, contribution to a healthy and sustainable crypto ecosystem and more. All the trade orders will be removed after trading ceases in each respective trading pair. Users that want to withdraw this asset from the platform have time until July 22nd.
Although they did not provide any specific information about why they have decided to delist Bitcoin SV it is possible to suggest that this is due to the lack of “contribution to a healthy and sustainable crypto ecosystem.”
Bitcoin SV has fallen over 14% in the last 24 hours. It moved from the 12th position in the market to the 13th and it could keep falling even further in the near future. Most of the users that sold BSV moved to Bitcoin Cash (BCH), the best performing digital asset among the top 100.
Bitcoin SV is a hard fork of Bitcoin Cash that took place back in November 2018. In the last 24 hours, Bitcoin Cash grew more than 9.2%, allowing it to reach the fourth position in the market.
Craig Wright, the main supporter of Bitcoin SV, has sued the Bitcoin supporter Hodlonaut for claiming that Wright is not Satoshi Nakamoto. Wright has many times threatened other users that claimed that he was not Satoshi Nakamoto but he never sued anybody until now.