Bitcoin SV (BSV) investors are attempting to revive a 2019 lawsuit against Binance, alleging that the exchange’s delisting of BSV caused prolonged price depreciation. The plaintiffs argue that Binance’s actions violated competition laws and seek up to £10 billion (~$13 billion) in damages.
Key Developments
- Original Lawsuit: Filed in 2019 after Binance delisted BSV, citing founder Craig Wright’s controversial claims of being Bitcoin creator Satoshi Nakamoto.
- Legal Argument: Plaintiffs contend that a 2024 UK court ruling dismissing "opportunity loss" claims should be reconsidered.
- Damages Sought: Initial demand was $9 billion; revised claim targets £10 billion (~$13 billion).
Why BSV Was Delisted
Binance removed BSV in April 2019, stating it failed to meet listing standards due to Wright’s behavior. Wright’s disputed assertions about his role in Bitcoin’s creation have been widely criticized in the crypto community.
Legal Implications
The case highlights:
- Exchange Accountability: How platforms justify delisting decisions.
- Investor Protections: Legal recourse for traders affected by market actions.
Core Keywords
- Bitcoin SV (BSV)
- Binance delisting
- Cryptocurrency lawsuit
- Craig Wright
- Opportunity loss claim
FAQ
Q: What triggered the BSV delisting?
A: Binance cited Craig Wright’s misleading claims about being Satoshi Nakamoto as the primary reason.
Q: How much compensation are investors seeking?
A: Up to £10 billion (~$13 billion), revised from an initial $9 billion claim.
Q: Could this case set a precedent?
A: Yes, it may influence how exchanges handle delistings and investor disputes.
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This case underscores the volatile intersection of crypto governance and investor rights. For further updates, stay tuned to reliable industry sources.