Binance, the largest cryptocurrency exchange in the world will finally delist the 12th largest coin Bitcoin SV [BSV] on April 22. After mounting protest from the crypto-community to boot out the coin, Changpeng Zhao, the CEO of Binance has pulled the trigger.
Calvin Ayre and Craig S Wright, the two spearheads of the BSV project have been serving “legal notices” to all those who oppose Wright’s claim of being the original Satoshi Nakamoto. Peter McCormack, and the Twitter pseudonym Hodlanaut have been served legal notices, with Ayre warning many more “trolls” will face the music .
Zhao, who does not exclaim his displeasure regarding the happenings in the crypto-verse, especially with reference to controversial topics had affirmed in an earlier tweet that “Craig Wright is not Satoshi”. CZ further added that if this tirade continues, the coin would be deslited from their exchange.
He even added that this “is going too far,” and that CSW’s claims of being Satoshi has been going on for a while. The Binance CEO even pointed to BSV’s emergence in November 2018 as being the reason for the BTC decline below the $6,000 mark. Furthermore, Zhao even added that if served a legal notice by Ayre and team, “it won’t be the first time” and that the cost will not be of concern to him as the legal team at Binance “can deal with it”.
Following the relentless requests of the Binance users and the BSV camp not backing down from their claims, Binance has decided it’s the last straw and has withdrawn their support for the Bitcoin Cash hardfork.
The Binance CEO stated:
The delisting of BSV looks to be a severe blow to the camp and its prospects of becoming the one-true virtual currency that “follows the original Satoshi Nakamoto whitepaper”. At a time when its big-brother Bitcoin Cash has seen massive growth and even jumped two spots above, BSV is looking to decline.
A recent report from Diar stated that of the major cryptocurrency exchanges, Binance holds over 50 percent of the traded volume, with Bitfinex and Coinbase trailing behind.
Binance may not be the only exchange to show the door to BSV with other exchanges looking to follow suit. Anthony Pompliano, the partner at Morgan Creek appealed to other exchanges to delist Bitcoin SV following the legal debacle.
The exchange’s official site several reasons for a coin or project being delisted, including lack of commitment to the project, level, and quality of the development activity, level of public communication, evidence of unethical or fraudulent conduct among others.
Since the beginning of the year, Binance has already delisted several coins like CloakCoin [CLOAK], Modum [MOD], SALT [SALT], Substratum [SUB] and Wings [WINGS], resulting in a massive drop in their price.