A group of Bitcoin SV (BSV) investors is working to resurrect a multi-billion-dollar lawsuit against Binance, claiming the exchange\u2019s 2019 delisting of the altcoin caused long-term damage to its price and reputation.<\/p>\n\n\n\n
BSV, a hard fork of Bitcoin Cash (itself a fork of Bitcoin), has faced a steep and prolonged decline in value. Now, the investors argue that major delistings\u2014particularly Binance’s decision to remove the token\u2014are largely to blame for BSV\u2019s failure to gain traction in the broader crypto market.<\/p>\n\n\n\n
According to a Law360<\/em> report, attorneys representing the investors want the UK Competition Appeal Tribunal to revisit its July 2024 decision dismissing a \u201closs of chance\u201d claim against Binance. In their original filing, the plaintiffs sought $9 billion in damages. If the appeal is successful, the damages could reach as high as 10 billion GBP (about $13 billion).<\/p>\n\n\n\n Following news of the revived legal push, BSV\u2019s price jumped around 15% and is currently trading near $42. However, the altcoin remains deeply entrenched in a long-term downtrend, struggling to attract miners or meaningful investor interest.<\/p>\n\n\n\n BSV has also suffered multiple 51% attacks\u2014critical breaches that undermine trust in the blockchain\u2019s integrity by allowing attackers to double-spend funds and take control of network consensus.<\/p>\n\n\n\n Binance removed BSV from its platform in April 2019, citing its failure to meet listing standards. The decision came in response to the behavior of BSV founder Craig Wright, who is widely criticized in the crypto community for falsely claiming to be Satoshi Nakamoto, Bitcoin\u2019s anonymous creator.<\/p>\n\n\n\n Then-Binance CEO Changpeng Zhao publicly warned that the token could be delisted if Wright continued making those assertions. When Wright persisted, Binance followed through on the threat.<\/p>\n\n\n\n Since then, BSV has been removed from several other major exchanges, further isolating the token from mainstream crypto investors.<\/p>\n\n\n\n Whether the lawsuit succeeds or not, BSV remains a cautionary tale of what happens when a controversial founder and technical vulnerabilities collide with centralized exchange policies.<\/p>\n","protected":false},"excerpt":{"rendered":" A group of Bitcoin SV (BSV) investors is working to resurrect a multi-billion-dollar lawsuit against Binance, claiming the exchange\u2019s 2019 delisting of the altcoin caused long-term damage to its price and reputation. BSV, a hard fork of Bitcoin Cash (itself a fork of Bitcoin), has faced a steep and prolonged decline in value. Now, the […]<\/p>\n","protected":false},"author":18,"featured_media":14537,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,43,18],"tags":[],"class_list":{"0":"post-14535","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-general-news","9":"category-market-updates"},"acf":[],"yoast_head":"\nPrice Jumps on Legal Momentum, But BSV Remains in Decline<\/h3>\n\n\n\n
Binance Delisted BSV in 2019 Over Craig Wright Controversy<\/h3>\n\n\n\n
Key Points<\/h3>\n\n\n\n
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