The world’s largest cryptocurrency exchange by volume, Binance, has announced its intention to delist Bitcoin SV, the controversial Bitcoin Cash fork.
Announced on Monday in a blog post, Binance is set to delist and cease trading on all trading pairs for Bitcoin SV (BSV) on April 22.
The announcement takes the form of any other asset delisting on the exchange. It begins with the explanation that Binance “periodically review each digital asset [they] list to ensure that it continues to meet the high level of standard [they] expect,” before continuing to list a number of factors that may influence the decision. These include commitment of the team to a project, network stability, quality of development activity, and evidence of fraudulent conduct.
It is, however, more likely that the delisting came as a result of the recent actions of BSV leader Dr. Craig Wright. Wright claims to be Bitcoin’s creator, Satoshi Nakamoto, although as of yet has not provided substantial proof. Indeed — while it is unclear whether Wright is who he claims to be — one does wonder why the architect of a trustless system would simply ask people to ‘trust’ him on the matter.
On April 11, Binance CEO Changpeng Zhao (CZ) tweeted:
“Craig Wright is not Satoshi.
Anymore of this sh!t, we delist!”
The tweet came in response to a series of attacks from Craig Wright against anonymous Twitter user hodlonaut, and other users who have claimed Wright is not Satoshi. It refers to a $5,000 ‘bounty’ that Wright placed on hodlonaut’s identity.
Wright, alongside CoinGeek founder Calvin Ayre, have sent legal cease-and-desist letters to those who claim him to be a fraud. One such recipient, Peter McCormack — host of the What Bitcoin Did podcast — shared the letter’s contents online.
Binance will continue to support BSV withdrawals until July 22.
Other Exchanges React
In reaction to the delisting, other exchanges have begun to follow suit. Kraken Exchange issued a poll on Monday asking users whether the exchange should delist BSV. Bitforex did the same, and Shapeshift CEO Erik Voorhees also revealed his intention to remove the coin.
Exchanges to come out in support of BSV include leading exchange OKEx, who stated that the coin does not meet their delisting criteria. Last week, OKEx partnered with RelayX founder Jack C. Liu to launch Float SV, a BSV-based exchange.
In retaliation, Japanese financial services giant SBI Holdings made the decision to delist Bitcoin Cash (BCH) instead of BSV from its trading platform. CEO Yoshitaka Kitao has criticized the fork in the past, and has a close personal relationship with Dr. Wright.