In a very definitive turn of events, Binance, the largest cryptocurrency exchange, has officially announced that it will move to delist Craig Wright’s Bitcoin SV (BCHSV).
Bitcoin SV Out of Binance
It turns out, he was not kidding when making those statements. Binance has just issued a formal announcement, saying that it will move to delist Bitcoin SV (BCHSV) on April 22nd at 10:00 AM UTC.
The statement doesn’t explicitly say the exact reason for the decision, but it lists a few of the merits they keep in mind when going through procedures of the kind. A few of them appear to be particularly appropriate for the ongoing situation. The statement says that Binance takes the following factor when deciding to delist a digital asset:
Contribution to a healthy and sustainable crypto ecosystem
Evidence of unethical/fraudulent conduct
Changpeng Zhao has openly called Craig Wright a fraud and that he is poisoning the community, which is likely to be a driving motivator.
Bitcoin SV Price Reacts Immediately
When a cryptocurrency is listed on Binance, this almost always results in a positive spike of its price. The same can be said for when a cryptocurrency gets delisted.
At the time of this writing, Bitcoin SV is down almost 10 percent according to data from CoinMarketCap.
Moreover, as seen above, the price dropped notably just as the announcement went live.
It’s anyone’s guess to know whether the price will keep on declining. However, as the exchange has made it clear that trading on its platform will end on April 22nd, people are likely to consider selling BCHSV for other cryptocurrencies in order to halt potential losses.