Breaking: Binance to Delist Bitcoin SV on April 22, BSV Price Starts Tanking in Industry First Move
Binance has announced its decision to delist Bitcoin SV and cease its trading on all trading pairs for BSV on April 22nd at 10:00 AM UTC.
As we have been constantly reporting all that’s been going with Craig Wright threatening a bitcoiner Hodlonaut among other crypto community members for calling him a fraud and ‘faketoshi’, the things took a serious turn today when Binance actually announced the decision to delist BSV.
Just before the weekend, Binance CEO, Changpeng Zhao threatened Craig Wright that the biggest cryptocurrency exchange will delist Binance if Wright keeps on claiming he is Satoshi. Turns out, it was not just a threat as BSV won’t be available on Binance from next week.
Do the right thing. https://t.co/z7HGsAZnmR
— CZ Binance (@cz_binance) April 15, 2019
BSV Fails to Meet Binance’s High-Standards
In its official announcement, Binance says BSV fails to meet the high level of standard that the cryptocurrency exchange expects from the digital assets it lists.
“When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.”
The factors that decide the standard of a coin includes level and quality of development activity, the commitment of team to the project, network/smart contract stability, level of public communication, responsiveness to our periodic due diligence requests, evidence of unethical/fraudulent conduct, and contribution to a healthy and sustainable crypto ecosystem.
“Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following coin on 2019/04/22 at 10:00 AM UTC: Bitcoin SV (BCHSV).”
BSV Price Already Down 8% against USD
In response to this news, Bitcoin SV has taken a fall of more than 8 percent in the last few hours only and keeps on declining against USD, as per Coinmarketcap data. Currently, it is trading at $65 and is in the red by 9 percent in the BTC market as well.
BSV USD chart, Source: TradingView
At the time, Zhao called out the delisting of BSV on Binance, Anthony Pompliano of Morgan Creek Digital called out for a solidarity move to delist BSV from all the exchanges.
Does it mean soon Bitcoin SV won’t be available on any exchange? Well, that’s to be seen but given the fact that the price has started falling already and the biggest crypto exchange has taken the first step, more exchanges can be expected to follow the suit.
Every exchange should delist BSV simultaneously on May 1st in a sign of solidarity behind the only Bitcoin that ever mattered.
This community is the responsibility of the people. Sometimes we must do the hard thing, not because it is easy, but because it is right.#DelistBSV
— Pomp 🌪 (@APompliano) April 12, 2019