Kraken the American cryptocurrency exchange has officially tossed Bitcoin SV out of its platform. Following the likes of Binance and Shapeshift, the San Francisco exchange announced the delisting of BSV on April 17.
“The people have spoken. Kraken is delisting BitcoinSV”
As the Binance and Shapeshift decision collectively rocked the BSV market, Jesse Powell’s Kraken did not immediately join the delisting brigade. The exchange decided to gauge public opinion of a decision that could send shockwaves through the market.
On April 15, Kraken put out a pool, which saw over 65,000 respondents on the BSV-delisting issue. An overwhelming majority of over 72 percent backed the delisting option, stating that the coin is “toxic” to the community. Only a mere 7 percent did not want the coin to be delisted while the rest didn’t bother too much with the issue.
In a blog, Kraken also explained their motivation behind this move:
“Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them.
This aggression will not stand. Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV. Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.”
Unlike Binance that jumped the gun, due to the prominent support for the delisting approach, Kraken took a more measured path. It should be noted that Changpeng Zhao, the CEO of Binance did float the possibility of a delisting days before the actual announcement. Several influencers backed delisting, not only from Binance but from a host of exchanges.
The delisting cry comes after the two spearheads of the project Craig Wright and Calvin Ayre have been launching legal notices to those who contest Wright’s claims of being Satoshi Nakamoto and call him a “fraud.” Peter McCormack and Hodlonaut are two prominent crypto-influencers that have been subjected to this legal charge from the BSV camp.
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