Bitcoin SV Plummets Following Binance Delisting

Bitcoin SV started not too long ago. But during this brief time, it has already racked up a number of controversies. Its latest tryst with trouble comes in the form of a delisting by Binance, one of the world’s most popular cryptocurrency exchanges.

Binance has announced on its website that it was going to delist Bitcoin SV effective April 22, 2019. According to the exchange, the decision was taken after its most recent reviews, which lead it to determine that Bitcoin SV was not fit for Binance.

The review came a few days after Changpeng “CZ” Zhao, Binance’s CEO, tweeted in response to an article where Bitcoin SV’s creator Craig Wright was suing cryptocurrency activist Hodlonaut, who recently created the Lightning Torch initiative.

Wright has become infamous by claiming that he is Satoshi Nakamoto, Bitcoin’s anonymous founder.

But Wright hasn’t given the world any viable proof to back that claim. As CZ and other cryptocurrency experts have suggested in the past, the real Satoshi Nakamoto would have the ability to digitally sign a message. That is not something difficult for Satoshi as the Bitcoin’s founder to do.

Instead of proving himself, Wright went after Hodlonaut, demanding an apology by the anonymous Twitter handle for calling him a fraud.

The general cryptocurrency rallied around Hodlonaut, changed their profile pictures and provided donations for his legal fund. Wright wasn’t pleased with his need for justice and went after other journalists within the cryptocurrency sector. Wright also decided to go after cryptocurrency journalist Peter McCormack, who then rejected his demands.

Bitcoin SV supporter and entrepreneur Calvin Ayres mentioned that letters had been sent to a few entities, including Ethereum co-founder Vitalik Buterin. The letters were almost identical in their objective, which was to seek an apology for mentioning that Wright might not be Satoshi Nakamoto after all.

While Wright conducted his campaign, prominent members in the crypto community watched while some acted. CZ of Binance issued a warning tweet, and after a comprehensive review of Bitcoin SV and its associated team, Binance announced that Bitcoin SV will be removed from the exchange.

The news has since caused Bitcoin SV’s price to plummet over the course of the day. Cryptocurrency community members are lauding CZ and Binance for taking prompt action against Wright for not backing his massive claims and taking away from the larger focus on cryptocurrency development.

The cryptocurrency sector is still in the process of maturing and actions such as these help to provide more credibility to the system.