Binance to Delist Bitcoin SV as It ‘No Longer Meets’ the Exchange’s Standards
After Binance CEO CZ tweeted that he was considering delisting BSV last week, the exchange has officially announced it will delist the coin.
The exchange stated that as of April 22, it will delist and cease trading on all trading pairs for BSV — on the exchange under the ticker BCHSV. In the post, Binance explained that it regularly reviews assets listed on its platform “to ensure that it [an asset] continues to meet the high level of standard we expect.” The firm went on to explain that it only delists a coin after another in-depth review, noting “[w]e believe this best protects all of our users.”
The exchange listed responsiveness to its due diligence requests, level and quality of the coin’s development and “evidence of unethical / fraudulent conduct” among the factors that it takes into account before delisting a cryptocurrency.
The exchange also noted that it will support withdrawals of the coin until 10:00 a.m. UTC on April 22.
“Craig Wright is not Satoshi. Anymore of this sh!t, we delist!”
The tweet is presumably a reaction to BSV founder Craig Wright’s — infamous in the industry for making multiple claims to be Bitcoin (BTC) creator Satoshi Nakamoto — recent action against Hodlnaut, the Twitter user behind the Lightning Torch initiative.
As previously reported, Wright had set a $5,000 bounty in BSV for information regarding the identity of Hodlnaut. The cryptocurrency community reacted on Twitter by creating #WeAreAllHodlonaut hashtag, to show support for the now deleted twitter user. The community also reacted to CZ’s warning by asking various exchanges to delist BSV and creating a #DelistBSV hashtag.
Wright was purportedly motivated by the anonymous Twitter user calling him a fraud and accusing him of falsely claiming to be Nakamoto.
Binance is currently the world’s fourth largest crypto exchange by adjusted daily trade volume, seeing about $900 million in trades over the 24-hours to press time.
BSV is currently trading around $65, down clost to 7% on the day to press time.