Binance to Delist Bitcoin SV as It ‘No Longer Meets’ the Exchange’s Standards
Olivia Kapozzalo's original article for cointelegraph.com reduced by 51%
Major cryptocurrency exchange Binace has officially announced that it will delist Bitcoin SV starting next week. 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.
The tweet is presumably a reaction to BSV founder Craig Wright's - infamous in the industry for making multiple claims to be Bitcoin creator Satoshi Nakamoto - recent action against Hodlnaut, the Twitter user behind the Lightning Torch initiative. The community also reacted to CZ's warning by asking various exchanges to delist BSV and creating a #DelistBSV hashtag. 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.
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