By following through with his warning, the CEO demonstrated that he will defend his principles like a true leader is expected to do.įourth, BSV is now a pariah. Third, it establishes Binance as the de facto leader among exchanges. By removing a coin that was synonymous with lawsuits, fraud and ‘Faketoshi,’ the exchange sets a precedent of industry self-regulation. Second, the delisting gained Binance a lot of ‘street cred’ from the community. Moreover, Bitcoin SV price plunged immediately following the news by over 20 percent revealing its tenuous market presence. ![]() Its hash rate, despite courting miners, is a minuscule 1.6 percent of Bitcoin’s. In fact, the number of actual BSV users is dwarfed even by its forked rival BCH. With Binance supporting hundreds of altcoins, dropping such a low volume coin will not hurt their business. Ultimately, the decision to drop BSV could bring a slew of benefit for the world’s biggest exchange for many reasons.įirst, BSV trading volume on the platform was negligible. As Bitcoinist reported last December the exchange was sued by UnitedCorp over an alleged complot to hijack the Bitcoin Cash network following a highly contested hard-fork that spawned BSV. Interestingly, Kraken may have even more reason to remove BSV. Overwhelmingly, more than 70 percent said that Kraken should delist the altcoin saying, “Yes, it’s toxic.” With over 61 thousand respondents so far, the results suggest that Kraken will be the next major exchange to drop BSV. It posted a public poll asking whether BSV should be removed. We’ve decided to delist Bitcoin SV from Shapeshift within 48 hrs.īitcoin exchange Kraken, meanwhile, revealed it’s also considering taking action. “We stand with Binance and CZ’s sentiments,” wrote CEO Erik Voorhees. Shapeshift also jumped on the bandwagon delisting the altcoin much sooner. ![]() “After careful consideration, we have determined to end all support of BSV within the Blockchain Wallet by May 15, 2019,” they wrote. Ayre, however, was indignant calling the move “unlawful.” Kraken Will Likely Delist SV NextĪs Bitcoinist reported, last week, Morgan Creek cofounder Anthony Pompliano called on every major exchange to delist BSV “simultaneously” on May 1st.īut with Binance pulling the trigger much earlier, other companies are already following suit.īlockchain announced it would drop support by May 15th. The news was largely received with praise by online commentators.
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