Investors of Bitcoin Satoshi’s Vision (
BSV
— a difficult split from Bitcoin Cash
BCH
), which is actually a hard fork of Bitcoin (
BTC
) Protocol, are trying to resurrect a legal case from 2019 against the cryptocurrency exchange Binance for removing the altcoin, which the plaintiffs argue hindered the price of BSV.
According to
Law360
, attorneys for the plaintiffs argued that a July 2024
decision
From the UK Competition Appeal Tribunal rejecting the “loss of chance” claim filed against Binance for removing the token, it may warrant revisiting. The parties involved in litigation
sought $9 billion in compensation
, as was initially presented.
The investors keep asserting that
In 2019, Binance removed BSV from its platform.
And comparable significant exchange delistings are mainly responsible for the prolonged decrease in BSV’s value and its inability to draw the same level of investor interest as Bitcoin.
Should the group of BSV investors succeed with their legal claims and prevail in court, they might pursue as much as 10 billion British pounds (GBP), equivalent to approximately $13 billion, in compensation from the exchange.
Following the recent news, the value of BSV jumped by roughly 15%, bringing its current trade rate to about $42. Nonetheless, this alternative coin continues to be part of an extended downward trend and hasn’t managed to secure most of the economic activity or computational resources from the Bitcoin network.
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Binance removes BSV from its platform because of the conduct exhibited by founder Craig Wright.
In April 2019, Binance removed BSV from its platform following an announcement stating that the coin did not satisfy their listing criteria because of actions taken by BSV’s founder, Craig Wright. Known within the cryptocurrency community for his unsubstantiated claims about being Bitcoin’s real creator under the pseudonym Satoshi Nakamoto, Wright has garnered significant infamy.
Ex-CEO of the Binance exchange, Changpeng Zhao
alerted BSV about an imminent removal from listing
If Wright persisted with his assertions that he was the anonymous founder of Bitcoin.
Open the Youtube video
Since then, BSV has
suffered several 51% attacks
This refers to an attack scenario wherein malevolent participants command the majority of computational resources within the network, enabling them to reverse transactions and facilitate double-spending—thus undermining one of the fundamental principles that lend value to cryptocurrencies.
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