Bitcoin SV is under fire, some may call it an apocalypse, promising to get worse by the day. In less than 24 hours, the coin has been delisted from three major platforms and is looking like it will be kicked out by yet another in the next few days. Well, the Changpeng Zhao issued a warning a few days back and now, he did exercise that leading to the asset being expunged from Binance, where Zhao is the CEO. Binance exchange, being one of the largest exchanges in the world with much influence has caused a domino effect, seeing more exchanges delisting Bitcoin SV.
Other platforms and exchanges that have delisted the 12th most capitalized coin include Shapeshift and Blockchain Wallet, with Kraken also anticipated to do the same. Kraken exchange has a Twitter poll where it is asking the public and crypto enthusiasts to vote on whether it should delist Bitcoin SV, and so far, the ‘yes’ team is winning. In response to the delisting of Bitcoin SV, investors have been moving their money from Bitcoin SV and into other altcoins. This has since seen the coin drop by more than 15 percent
Is Craig Wright To Blame?
The Australian computer scientist and proponent of Bitcoin SV, Craig Wright, claims to be the real Satoshi Nakamoto. While this has always been regarded as a hoax, stirring controversy, this time it did cost him more than $300 million after threatening lawsuits to critics. On Feb 8, Craig Wright published an article saying he was the real Satoshi Nakamoto. He went on to explain his vision for the real “Bitcoin”. Of Course, very few believed him and those who did not and opposed this got attacked. Twitter user hodlonaut, the man behind the Lightning Network “torch “, was one of the individuals attacked. What caused this to spiral this was Craig ordering his lawyers to send defamation notices to those people disputing his Satoshi claim.
This did not sit well with one of the industry’s biggest player, Changpeng Zhao, who also dispute the claim. The CEO believed that this was fraudulent and move that was “poisoning” the crypto community. Zhao threatened to delist Bitcoin SV on his exchange Binance, a move that many supported.
Any Good, Or Is It All Bad for Bitcoin SV?
No doubt, cryptocurrencies need exchanges to survive. By being delisted on Binance and other major exchanges, Bitcoin SV has put itself at risk being driven to oblivion. But it appears that this is just the beginning. Craig’s coin will continue to come under fire for the next couple of days, but its supporters are hopeful other exchanges will not join in the delisting movement.
As Zhao stated before, the real Satoshi can digitally sign any message to truly prove that it is him/her. Craig Wright has not done so and unless he can do (soon), Bitcoin SV stand a real chance of capitulating.
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