Two Rival Camps Tussle Over Bitcoin SV (BSV) Delisting
The crypto world’s attention is again pivoted to Craig Wright, the self-declared creator of bitcoin, and his Bitcoin Satoshi Vision (BSV), a controversial bitcoin cash offshoot as an increasing number of crypto exchanges and crypto wallet service providers decide to discontinue support for BSV tokens.
San Francisco-based crypto exchange Kraken announced Tuesday that it will disable BSV deposits on April 22, citing the BSV team’s unethical behaviors that threaten the philosophy of the community. Kraken becomes the latest crypto exchange jumping on the bandwagon delisting the altcoin amid an escalating dispute between outspoken members of the crypto community and BSV’s creator Craig Wright.
Binance, the world’s largest digital-asset exchange, took the lead on April 15 in announcing that it will delist BSV starting April 22, after the exchange’s founder Changpeng Zhao–better known as CZ in the industry—threatened on Twitter to delist BSV if Wright does not stop claiming he is the person behind the pseudonym Satoshi Nakamoto, the creator of Bitcoin. CZ unequivocally declared that “Craig Wright is not Satoshi.”
CZ’s tweet is considered as a reaction to Wright’s recent action against Hodlnaut, the anonymous Twitter user behind the Lightning Torch initiative. Wright offered a $ 5,000 bounty for whoever helps him determine the identity of Hodlnaut before the twitter account was deleted. Wright is accused of attacking crypto community members who cast doubt over his claims that his is the original developer of the world’s largest cryptocurrency.
By far, other important platforms, including Shapeshift, Blockchain.com, BitForex and Litebit have also decided to delist BSV, with Coinbase considering plans to follow suit.
In addition, some of the most influential figures in the cryptocurrency sector, such as Ethereum creator Vitalik Buterin, Cardano founder Charles Hoskinson, and crypto analyst Joseph Young also support the BSV delisting.
Not surprisingly, these delisting announcements deliver a blow to the price of BSV. The altcoin is down roughly 30% on the week, trading at $55.84 at the press time, according to data from coinmarketcap.
However, some people are at opposite ends of the delisting debate.
Major cryptocurrency exchange OKEx announced Tuesday that it decided not to delist BSV because the crypto doesn’t t meet the OKEx delisting and hiding criteria after reviewing its technology development, liquidity and compliance. Besides, the crypto mining pool of OK Group said it will continue to support mining BSV.
“As a neutral platform, OKEx respects the efforts of all dedicated teams in advancing the technology of Bitcoin and has no inclination to certain technical directions,” OKEx said in a blog post.
Zhao Dong, bitcoin billionaire and DGroup founder, believed the delisting decision is bad for BSV investors. He wrote in a weibo post that “I don’t think it is a right decision to delist BSV, although it doesn’t mean I support BSV. Haven’t you learned that Wright is a liar and fake Satoshi until now? Considering that exchanges have profited from the BSV listing, the decision to drop it now may leave BSV investors suffer financially as the token is in limbo. Is the practice a little bit snobbish?”