Cryptocurrency Exchange Kraken Delists BSV Coin of Faketoshi
Cryptocurrency exchange Kraken announced Tuesday that it is delisting bitcoin SV (BSV) amid an ongoing feud between BSV’s proponent Craig Wright and members of the bitcoin community on Twitter.
Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw.
Community sentiment was apparently the crucial push that the San Francisco-based exchange needed in making its decision.
Should Kraken delist Bitcoin SV (BSV)? #delistbsv
— Kraken Exchange (@krakenfx) April 15, 2019
The move follows announcements Monday by two other leading crypto-exchanges — Binance and ShapeShift — that they are delisting BSV in response to Wright’s behavior. Binance’s CEO, Changpeng Zhao (CZ), tweeted that Wright is “poisoning” the bitcoin community with his threats to sue people who have called him a fraud. The #CraigWrightisaFraud hashtag came about because Wright has claimed without proof that he is bitcoin’s pseudonymous creator Satoshi Nakamoto.
Based in San Francisco, Kraken says it will disable BSV deposits on April 22, trading will stop on all trading pairs on April 29 and withdrawals will no longer be possible after May 31.
— Kraken Exchange (@krakenfx) April 16, 2019
The hashtag #delistBSV was included by Kraken in its announcement.
Meanwhile, Hong Kong-based OKEx has explicitly stated that they have no immediate plans to delist BSV.
According to the OKEx Token Delisting and Hiding Guideline (https://t.co/DzhKdbBxzn), BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being.
— OKEx (@OKEx) April 16, 2019
BSV price is down by about 30 percent from a week ago. Its reputational rival BCH gained at least 20 percent during the same period. Benchmarker BTC has held steady at around 5,200 USD.
Moreover, BSV dropped more than five spots in the rankings of cryptocurrencies according to market capitalization. In terms of market cap, BSV is now well outside the top ten, behind Cardano, Monero and Dash.