Exchange News

Binance’s CEO fulfils his threat to delist Bitcoin SV due to misconduct

Binance will delist Bitcoin SV with effect from April 22. The announcement was posted on Binance’s official blog.

In the announcement, Binance cites its periodic individual review of all listed virtual currencies. The review, the exchange noted, is to ensure that each listed cryptocurrency adheres to its high level of standards.

Among the criteria used during these reviews include:

Commitment of team to project, network / smart contract stability, level of public communication, responsiveness, contribution to a healthy and sustainable crypto ecosystem, evidence of unethical/fraudulent conduct, etc

The decision to delist Bitcoin SV is, most likely, influenced by the evidence of unethical/fraudulent conduct. Notably, the notice to delist Bitcoin SV comes after Changpeng Zhao, Binance’s CEO, warned Craig Wright against his continued push that he is Satoshi Nakamoto, the anonymous Bitcoin creator. As earlier reported by CLN, Wright is hunting down, literally, anyone who seems to question whether he is Nakamoto.

Recently, Hodlonaut, a Twitter user, claimed that Wright is a fraud. In response, Wright placed a $5K bounty on Hodlonaut’s head for anyone who would reveal the Twitter users physical address. With an address, Wright would be able to serve him with legal papers.

Changpeng Zhao was among notable figures in the cryptocurrency industry who defended Hodlonaut. “Craig Wright is not Satoshi. Anymore of this sh!t, we de-list Bitcoin SV,”  the CEO tweeted. To prove that Wright is Nakamoto, Zhao added, the Bitcoin SV supporter should sign a message using Nakamoto’s private key.

Craig Wright demands that Hodlonaut should offer a public apology and withdraw their defamatory comment in court.

Binance being a leading cryptocurrency exchange, the move to delist Bitcoin SV will have a far-reaching effect on Bitcoin SV’s price especially now that the coin is struggling to keep up with Bitcoin’s recent price surge. For instance, at the beginning of the month, Bitcoin recorded a 25 percent price appreciation with Bitcoin SV recording 9 Percent. Most altcoins have even gained more than Bitcoin.

Will the price of Bitcoin SV plummet as Bitcoin and other cryptos record gains?

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Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.