Apr 15, 2019 16:09 UTC
Apr 19, 2019 at 22:14 UTC
Binance Finally Moves To Delist Bitcoin SV
Recently, the crypto world has been fraught with a great deal of controversy around influential figures who form a part of the Bitcoin SV (fork of Bitcoin Cash) community. In the wake of those controversies, and after Binance CEO Changpeng Zhao condemned the cryptocurrency itself, the top cryptocurrency exchange has finally moved to delist it altogether.
So what happened? Well, over the last week, a great deal of controversy erupted with Craig Wright and Calvin Ayre (two major names behind the Bitcoin SV project) and a Twitter user with the handle “Hodlonaut” playing principal parts in the unfolding drama. Holdonaut had begun the Lightning Network Torch event and in that context, Craig Wright and Calvin Ayre began to launch sharp attacks on many members of the Twitteratti who are closely associated with the crypto sector. They went so far as threatening some of them with a lawsuit, including Peter McCormack.
Craig Wright himself has sparked a lot of controversy earlier, claiming to be Bitcoin’s original, anonymous founder Satoshi Nakamoto and saying Bitcoin SV (Satoshi’s Vision) is actually a translation of his original idea.
With the controversy taking over the attention of the entire crypto world, Binance CEO Zhao had warned of delisting Bitcoin SV altogether and now that is finally becoming a reality. On its blog post, Binance called this delisting a result of routine evaluation. The post wrote:
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.”
Binance mentioned the following criteria for their assessment:
“Commitment of team to project
Level and quality of development activity
Network / smart contract stability
Level of public communication
Responsiveness to our periodic due diligence requests
Evidence of unethical / fraudulent conduct
Contribution to a healthy and sustainable crypto ecosystem”
It seems that a close look at the team’s dedication and public communication resulted in the crypto coin being effectively ousted from Binance. All trading pairs for Bitcoin SV will be closed down on 22nd April.