Binance Will Delist BCHSV - Get ready for the Dump
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:
- All trade orders will be automatically removed after trading ceases in each respective trading pair.
- To view your assets after trading ceases, please ensure you have not selected “Hide small assets” in your Funds page.
- Withdrawals of these coins and tokens from Binance will continue to be supported until 2019/07/22 at 10:00 AM UTC.
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
It seems that Binance CEO wasn’t joking when he threatened to delist Bitcoin SV from the exchange.
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect,” the company wrote in a blog post. “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.”
Why!? May cry out crypto community. While the reasons are obvious (especially for those familiar with the recent buzz around Craig Wright and his law suit letters), Binance camouflages its decision by presenting a number of factors they review to decide whether any coin is worth listing on this leading exchange, or not.
This being said, Bitcoin SV failed to prove its:
Commitment of team to project
Level and quality of development activity
Network / smart contract stability
Level of public communication
Responsiveness to our periodic due diligence requests
Evidence of unethical / fraudulent conduct
Contribution to a healthy and sustainable crypto ecosystem
Zhao commented that this “is going too far,” and that CSW’s claims of being Satoshi has been going on for a while. The Binance CEO also pointed to BSV’s emergence in November 2018 as the reason why Bitcoin price declined below the $6,000 mark. Furthermore, Zhao added that if served a legal notice by Ayre and team saying that “it won’t be the first time” and that the cost will not be of concern to him as the legal team at Binance “can deal with it”.
Last week we wrote of how crypto blogger Peter McCormack received a lawsuit letter from Craig Wright for causing “serious harm” to his reputation. Wright had earlier threatened Hodlnaut, the person behind the lightning torch, with legal action for calling him a “fraudster.” Zhao already then said he’s “sick of this sh!t”.
Following the relentless requests of the Binance users and the BSV camp not backing down from their claims, Binance has decided it’s the last straw and has withdrawn their support for the Bitcoin Cash hardfork.
The truth is, the delisting of BSV could be a severe blow to the camp and its prospects of becoming the one-true virtual currency that “follows the original Satoshi Nakamoto whitepaper”. At a time when its big-brother Bitcoin Cash has seen massive growth and even jumped two spots above, BSV is looking to decline.
As this news broke, BSV collapsed. As of the time of writing this, the asset is down 7.3% on the day, falling to $65,28 apiece, in a green market. Interestingly, Binance wasn’t BSV’s largest market, but it is widely agreed that this delisting is a large blow to the project’s reputation.
No one has reviewed this piece of content yet