Binance, the cryptocurrency exchange has announced that it will delist the Bitcoin SV coin from its platform at the end of the month as it does not meet their standards. Earlier, Changpeng Zhao, the founder of Binance had warned Craig Wright, the founder of Bitcoin SV that if he does not stop threatening other people, he will soon delist his coin from Binance.
Craig Wright had been continuously threatening people in the cryptocurrency space and even filed cases against some who claimed that he is not the founder of the original bitcoin, Satoshi Nakamoto.
Bitcoin SV: No Longer on Binance
According to a press release posted by Binance today, the platform is going to delist the Bitcoin SV coin. Binance mentioned that this move has been taken as a part of their regular evaluation of the cryptocurrencies the exchange has listed to check whether they still meet the standards of the exchange. In the press release, Binance mentioned that when a cryptocurrency/coin which is already listed on the platform, does not meet their standards or the changes in the industry, they perform an in-depth review and if then delist it from the platform in order to protect their customers.
The press release also mentioned some of the facts due to which they have taken the step to delist Bitcoin SV which includes the commitments by the developers of the coin, the levels of activities that that the team performs, the stableness of the network, the transparency of the team, the contribution of the overall project and also if there is a proof of immoral activity or corruption is performed around the asset or coin.
Bitcoin SV does not meet the standards of Binance:
The exchange stated that BSV owned by Craig Wright and backed by Calvin Ayre which was a result of the recent hard fork of Bitcoin Cash does not meet the standards of Binance and as such the trading of Bitcoin SV shall end on 22nd April 2019. However, the users will be able to withdraw their coins until 22nd July 2019.
Changpeng Zhao, the founder of Binance also tweeted about the delisting of BCHSV from their exchange:
Do the right thing. https://t.co/z7HGsAZnmR
— CZ Binance (@cz_binance) April 15, 2019
Bitcoin SV Crashes Hard:
Soon after the announcement of delisting by Binance, the price of BSV started to crash hard. Most of the top cryptocurrencies according to market capitalization are in GREEN today (Showing Gains) however, the only exception being BSV which is down by more than 9% in the last 24 hours, currently trading at around $64 with signs of further declines.