Bitcoin SV Loses $300 Mln After #DELISTBSV Controversy Tanked Its Price. What Will Be Craig Wright's Next Move?

The growing backlash against Craig Wright has horrible consequences for Bitcoin SV, but Wright continues to stand his ground

Tue, 16/04/2019 - 6:14

Bitcoin SV Loses $300 Mln After #DELISTBSV Controversy Tanked Its Price. What Will Be Craig Wright's Next Move?

Cover image via U.Today

Read U.TODAY on

Google News

The price of Bitcoin SV has recently tanked almost 24 percent, becoming one of the worst-performing coins. As CNBC’s Ran NeuNer points Bitcoin SV’s market cap has dwindled by $300 mln due to the #DelistBSV controversy.

So far @CalvinAyre's threat to bankrupt @PeterMcCormack has cost BSV $300mn! I wonder who is bankrupting who here! pic.twitter.com/amRJ0MoFdM
— Ran NeuNer (@cryptomanran) April 16, 2019

HOT Stories

Bitcoin ETFs Record Largest Outflows of All Time

Mt. Gox’s Coins on the Move as BTC Price Plunges to $66K

Here's When XRP Downtrend Can End, Tron (TRX) Shows 36% Rally Everyone Is Missing, Solana (SOL) Price Drops by 11%, But Bullish Signal Is Here

Here's Why This Bitcoin Market Cycle Is Different

The backlash against Craig Wright

If you happen to think that 2019 is going to be a borefest in the world of crypto, Dr. Craig S. Wright made everyone grab their popcorn and watch what happens next. As reported by U.Today, Wright threatened a Twitter user ‘Hodlonaut’ with a lawsuit after the latter called him a fraudster. However, these bullying tactics backfired with Binance being the first exchange to announce its decision to delist Wright’s Bitcoin SV.

Multiple cryptocurrency influencers joined the #DelistBSV campaign with Anthony Pompliano calling on all exchanges to ditch the controversial Bitcoin Cash fork by May 1. In the latest Twitter poll, which was published by San Francisco-based exchange Kraken, the majority of respondents voted in favor of delisting Bitcoin SV.

card

Their side of the story

The article that was published in Calvin Ayre-owned outlet CoinGeek claims that Binance got itself in legal trouble by going against Bitcoin SV. The number one exchange doesn’t provide any valid reasons for delisting the coin (apart from their personal dislike of Wright).

This decision will certainly be reported to regulators in Malta and other governing jurisdictions as this is surely a case of people in trusted positions abusing that trust and playing God with which token gets the most volume and market access. In essence, market manipulation,’ Ayre claims.

However, according to Binance CEO Changpeng Zhao, he has good/expensive lawyers, so it would be interesting to see how this legal battle unfolds.

Photo: ©Pexels

#Bitcoin News

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.