Thursday, June 20, 2019

Binance, Blockchain.com Will Delist Bitcoin SV Following CZ’s Warnings to Craig Wright

If Craig Wright had been told about a week ago that his legal papers to Hodlonaut, Vitalik Buterin, Peter McCormack, and many others will trigger a counterattack on his beloved Bitcoin SV, he would’ve probably had a rethink. At the moment, three major cryptocurrency exchanges are trying to delist the cryptocurrency, and Binance, the 2nd largest cryptocurrency exchange by adjusted volume has confirmed that it will actually delist Bitcoin SV (BCHSV).

Binance Notifes Public That Bitcoin SV Will be Delisted

On April 15, Binance published a link to its blog post on Twitter. The message read, “Binance will delist Bitcoin SV”. A closer look at the blog post reveals that the exchange has set April 22 as the date to stop the trading of the virtual asset.

The message itself stated that the Malta-based exchange periodically reviews each asset that has been listed on its platform in order to ensure it still meets its standards. If the virtual asset is found wanting, then it is delisted after a more in-depth review is conducted.

Binance Lists Factors Considered During a Second Review

Binance also outlined the factors they take into consideration during the second review. Some of these are “Level of public communication,” “Contribution to a healthy and sustainable crypto ecosystem,” “Evidence of unethical/fraudulent conduct” and “Commitment of team to project”.

While BCHSV is still trading on the exchange as at press time, the message has negatively impacted on its price. Before its publication, the virtual asset was trading around $90, but at the moment, it is priced at $56. It, therefore, shows how a delisting from Binance, one of the most popular exchanges in the world, coupled with sentiments on social media could impact on a project.

Kraken and Blockchain.com Could Also Delist Bitcoin SV

On the other hand, getting delisted on Binance is not the only bone of contention Craig Wright’s cryptocurrency is facing because other exchanges are currently running a poll to determine if the asset should also be delisted. The latter is the case of Kraken, a U.S. based exchange.

In the case of Kraken, its poll began on April 15 and will end today, April 16. It has, so far, gotten 55,202 votes. 73% of respondents said “Yes, it’s toxic,” 20% said they “Do not care,” 4% said “No, need price discovery,” and only 3% said “No, it’s awesome”. It wouldn’t come as a surprise that the other 3% chose the option just for the humor of it.

Alternatively, Blockchain.com, a cryptocurrency wallet has confirmed that if you want to send or sell Bitcoin SV, you need to “go somewhere else” and no longer its wallet. According to Peter Smith, CEO of Blocckhain.com, the cryptocurrency will be delisted in the next 30 days.

This all began when Craig Wright’s lawyers sent legal papers to a cryptocurrency enthusiast, Hodlonaut. They alleged that Hodlonaut began the campaign “CraigWrightIsaFraud” for claiming he is Satoshi Nakamoto, Bitcoin’s creator. At the moment, #WeAreAllHodlonaut and #Delistbsv are now the trending hashtags each of which were triggered by the event.

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