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Bitcoin SV came about after one of the industry’s biggest hard fork after a dispute over Bitcoin C. The hard fork, which came late last year, saw Bitcoin Cash split to two. This created Bitcoin Cash and Bitcoin SV, and in the wake of this came a market plunge, that the market continues to suffer through to date. Now, the coin is back in the headlines again. This time as it takes a beating in prices and crypto leaders come after it for the mistake of the man behind it. In the last couple of hours, Binance exchange has announced the delisting of Bitcoin SV.
Future Is Looking Uncertain For Bitcoin SV
Other exchanges have joined this move including ShapeShift and Kraken is reportedly in the working of this. Blockchain wallet has also joined the movement, removing the option from its supported cryptocurrencies. Investors smelling impending doom, have chosen to move their money from Bitcoin SV, triggering a massive sell-off. Bitcoin SV at the time of press is down by more than 20%.
Over the years, several controversial people have claimed to be Satoshi Nakamoto, bitcoin’s founder, however, no one has ever produced his/her digital signature and hence no one has ever believed he/she has come out. One as such controversial people has been Craig Wright who has recently renewed this claim. In a recent publication, he stated that he was Satoshi Nakamoto, clearly outlining what his vision for Bitcoin was. Since there was not enough evidence for his claim, many called him out, and much to their surprise he rashed out, going as far as to threaten legal action.
This has not sat well with crypto leaders. One man has chosen to do something. Binance CEO CZ Binance, arguing that Craig Wright was poisoning the cryptocurrency ecosystem began a campaign to delist Binance SV on his exchange. This quickly gained traction and just days after, the exchange announced the delisting of the cryptocurrency. Now, starting April 22, Binance will not allow buying or selling of Bitcoin SV. At the moment holders are being asked to switch to alternative coins or move their SV to another wallet.
Time For Truth In The Crypto Community Is The Message
Although this latest move could be viewed as a positive development in the crypto ecosystem, where top influencers can easily call out other members who seem to misbehave or spread rumours, it does not account for the high volatility in the market. With this move, millions have been lost in investment, a costly price for an investor to pay for backing a “controversial” man.
Share your thought. Do you think more exchanges will come out and delist Bitcoin SV? Also, do you think Bitcoin SV will survive this and bounce back?