Cryptocurrency exchange, Binance has delisted Bitcoin SV from its trading platform following earlier threats by the CEO. Other crypto exchanges such as Kraken and Shapeshift are preparing to do the same.
Binance Bans Bitcoin SV
Last week, Binance CEO, Changpeng Zhao issued a warning to Craig Wright, threatening that he would remove Bitcoin SV from his cryptocurrency exchange if the claims of him being Satoshi does not end.
In their blog post, Binance revealed that the cryptocurrency was banned following evidence of unethical/fraudulent activity. The removal of Bitcoin SV comes a few days the warning by CZ, which shows that he was not joking around.
Craig Wright had claimed on numerous occasions to be Satoshi Nakamoto, the creator of Bitcoin. However, the cryptocurrency community doesn’t seem to believe. Last week, he revealed that he would sue some people for defamation of character as they cast doubt over his claims of being the inventor of Bitcoin.
Binance stated that they have decided to delist the cryptocurrency and all trading activities will cease from 2019/04/22 at 10:00 AM UTC. It has advised its customers to withdraw their Bitcoin SV assets from the exchange, adding that the trading of other tokens on the platform would continue as usual.
Kraken and Shapeshift Set to Remove Bitcoin SV
While Bitcoin has set the tone, some cryptocurrency exchanges will soon follow. Shapeshift is the first to announce that it would also ban the cryptocurrency from its trading platform. The CEO of the company, Erik Voorhees revealed that they are in total support of Binance and would, therefore, remove Bitcoin SV from their platform in the next 48 hours.
The announcement by Voorhees caused excitement within the cryptocurrency space, with most comments indicating that people are in support of eliminating Bitcoin SV from the exchange. Shapeshift has already decided to delist the cryptocurrency but Kraken is still consulting with its customers.
Kraken is running a Twitter poll asking its customers if it should ban Bitcoin SV. From the results collected so far, over 70 percent of the respondents want Bitcoin SV removed from Kraken since they consider it to be bad for the cryptocurrency space. Only 7 percent want it retained while 21 percent don’t really care what happens to it.
If Kraken should follow the results of the poll, then it would become the third exchange to remove Bitcoin SV from its crypto trading network. The Kraken community is similarly excited about this latest development, with most of them of the view that Bitcoin SV and its proponents have done more harm to the crypto space. Binance CEO, CZ is confident that Kraken would follow in his footsteps and delist the cryptocurrency.
Famous Crypto Personalities Against Wright and Bitcoin SV
Some popular cryptocurrency personalities have been against Wright’s claim to being Satoshi Nakamoto. The Bitcoin Magazine was at the forefront of this movement, even changing their name to hodlonaut at one point.
Changpeng Zhao is one of the famous people to issue a comment on this. Anthony Pompliano, the co-founder of Morgan Creek Digital also urged other cryptocurrency exchanges to delist Bitcoin SV starting May 1 as a sign of unity behind Bitcoin.
Peter McCormack also recorded his ordeal with Craig Wright and Calving Ayre regarding their claim on Satoshi.
Alan Silbert, a cryptocurrency exchange developer, while addressing Wright noted that harassing people on Twitter is something that the real Satoshi would do.
Bitcoin Cash Gains as Bitcoin SV Plunges
Following its removal from Binance, Bitcoin has plunged by more than 20 percent over the past 24 hours. On the other hand, Bitcoin Cash is leading the charge and is up by 7 percent against the USD. It’s Bull Run over the past few days has seen it overtake EOS and Litecoin to become the fourth largest crypto by market cap.
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Hassan is a cryptocurrency and stock market writer and enthusiast. The financial world has become his primary interest, with movies and books being some of his favourite pastime activities. He is an investor in many blockchain projects including Bitcoin, Stellar Lumens, Cardano, VeChain, Gifto, and Cindicator. Hassan also writes for important outlets like Blokt.com