The Bitcoin Fork of the Fork, BSV, Sees Kraken as the Latest Big-Name Exchange to Remove Token
According to a blog-post shared by the folks over at Kraken earlier today, the crypto exchange has joined other premier platforms such as Binance and Shapeshift in delisting bitcoin SV (BSV) — especially as the ongoing feud between SV’s creator Dr. Craig S. Wright and the Bitcoin community at large continues to intensify.
As per the blog, the reasons cited for the ban include:
- Kraken believes that the general sentiment of the Bitcoin community towards the project is not very warm at the moment.
- A number of litigations have been filed by BSV’s advocates against the exchange recently.
Lastly, it should be pointed out that following this announcement, Kraken now plans to remove support for BSV deposits by the 22nd of this month. Similarly, all trading and withdrawal-related activities will cease by the 29th of April and May 31st respectively.
More On The Matter
As mentioned previously, Kraken’s decision to delist BSV from its platform comes after Binance and ShapeShift too decided to take similar measures — especially in light of Wright’s recent behavior.
In regards to this entire ordeal, Binance CEO, Changpeng Zhao (CZ), tweeted out that Wright was “harmful” for the BTC community since he was constantly threatening people who did not agree with the notion that he was in fact ‘Satoshi Nakamoto’ — bitcoin’s pseudonymous creator.
In relation to this matter, Kraken CEO, was recently quoted as saying:
“They are suing us, our investors, well-respected and prominent figures in the community, and the community got to the point it’s fed up with it. It’s completely antithetical to what this community is about.”
Other Key Details Worth Checking Out
- A couple of days back, Kraken issued a poll via its official Twitter handle that sought to determine whether or not the online crypto community was “for or against the delisting of BSV”. At press time, 71% of the 70k+ individuals who participated in the poll said that they “supported the delisting of the token” while another 21% claimed that they did not care either way.
- As many of our regular readers may remember, over the course of the past couple of years, Kraken has delisted a couple of other altcoins such as Namecoin and Iconomi. Namecoin was banned due to its extremely low asset volume while Iconomi was delisted because of its sudden protocol change.
Closer Look at the Ongoing Feud
As per many reports, the entire delisting saga started when Wright started to threaten a Twitter user nicknamed Hodlonaut — who is probably best known for initiating the now-famous bitcoin Lightning Torch — asking him to “publicly recognize him” as the creator of BTC. He then went on to use the same defamatory antics again with well-known crypto commentator Peter McCormack.
Also, in addition to Shapeshift, Binance and Kraken banning BSV, a number of crypto apps such as Blockchain, SatoWallet, Phantasma Chain and Bittylicious too have released statements claiming that they too were pulling the plug on the top-10 altcoin.
However, in response to these aforementioned actions, Ed Pownall, a public relations expert for BSV, released a statement claiming that the delisting of BSV could “set a dangerous precedent” that would go on to hurt the crypto industry at large later down the line.
On the subject, he noted:
“Given the impact that trading venues can have on the visibility and price of a coin, such a subjective delisting sets a precedent which has the potential to increase the space’s vulnerability to manipulation. If a coin can be delisted due to some[one] not approving of a community/person’s legal activities, what’s to say that a similar narrative cannot be created in the future simply to support a malicious actor’s monetary interest.”