The creator of bitcoin SV (BSV), Binance decided to delist the cryptocurrency. This is after a week of controversy around Craig Wright. This news is quite impactful as Binance is the largest cryptocurrency exchange company in the world. CEO of Bitcoin SV calls Binance “fraudulent” after it gets delisted from the well-known exchange.
Only days after the CEO of Binance, Changpeng Zhao (CZ), threatened to delist all BSV trading pairs, the company announced on Monday that it would be doing so on April 22. The condition CZ placed for not delisting BSV, was for Wright to stop attacking Twitter users. These users claimed that he is not Satoshi Nakamoto, the pseudonymous creator of bitcoin. Obviously, Wright did not refrain.
While citing a number of factors it weighs when it decides to delist a cryptocurrency, Binance stated in it’s announcement:
“we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect”.
The factors linked to the digital currency include:
- the commitment of a team to the project
- the level and quality of its development activity
- its network and smart contract stability
- the level of public communication
- responsiveness to periodic due diligence requests
- evidence of unethical or fraudulent conduct
- its contribution to the crypto ecosystem
As CZ already said Binance would delist BSV if Wright continued his attacks on Twitter user ‘hodlonaut’ (who started the Lightning Network “torch“) and other individuals, this is probably the main reason.
Even though evidence for his claim has been widely disputed, Wright is stating in recent years that he is the person behind the pseudonym, Satoshi Nakamoto. When hodlonaut disputed this assertion, Wright placed a bounty on his identity. CZ also contested Wright’s claim in a series of follow-up tweets, saying “Craig Wright is a fraud,” that “the real Satoshi can digitally sign any message to prove it,” and that doing so would be simple.
The host of the “What Bitcoin Did” podcast, Peter McCormack, was one of these recipients.
Binance will continue to support BSV withdrawals until July 22.
Erik Voorhees, longtime crypto entrepreneur and CEO of ShapeShift announced later on Monday. That for the same reasons, his crypto-to-crypto exchange would also delist bitcoin SV.
“We stand with Binance and CZ’s sentiments”.
ShapeShift will remove BSV in 48 hours, he said.
Kraken, another influential cryptocurrency exchange company based in San Francisco, decided to ask Twitter users in a poll whether or not it should delist BSV, and therefore, is obviously considering it.