Surrounding multiple exchange delistings, Bitcoin Satoshi’s Vision (BSV) has fallen noticeably in price. Kraken also has decided to remove BSV.
Over the past several days, the crypto space has seen significant events regarding Craig Wright, his alleged status as Bitcoin creator Satoshi Nakamoto and his crypto asset project Bitcoin Satoshi’s Vision (BSV).
Binance, one of the largest crypto exchanges in terms of trading volume, posted a tweet on April 15, 2019, explaining why it delisted BSV. The tweet garnered a significant response on Twitter from the crypto community.
— Binance (@binance) April 15, 2019
On the same day Binance sent out its tweet, BSV dropped from about $75, down to around $59, seen on the BSV Bitfinex USD chart.
After Binance’s bold move, other exchanges seemed to follow suit in delisting the asset. ShapeShift, and recently Kraken exchange, both also have decided to remove the asset. Prior to its decision to remove BSV, Kraken’s Twitter account ran a poll, asking the public’s opinion on the matter, receiving the most votes in favor of a removal.
Should Kraken delist Bitcoin SV (BSV)? #delistbsv
— Kraken Exchange (@krakenfx) April 15, 2019
Kraken sent out an email to customers on April 17 describing the delisting, as confirmed by some of the Crypto Insider staff who received the email. In the email, Kraken said it warned customers about aspects of the asset, via a blog post, when the coin originally was listed on the exchange.
“WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment,” Kraken stated as part of its blog post announcement from November 2018. The warning also included multiple “red flags” for traders to take note of.
In the April 17 email to customers, Kraken went on to say,
Over the last few months, the team behind Bitcoin SV have engaged in behaviour completely antithetical to everything we at Kraken and the wider crypto community stands for. So alongside other upstanding members of the community, and in consultation with the more than 70,000 members of the community, we have decided to delist Bitcoin SV.”
Additionally, the email included the disabling of BSV deposits on April 22, with a stoppage of trading for the asset on April 29. The exchange noted, however, that customers will be able to withdraw BSV until May 31.
In contrast to the mentioned delistings, Crypto Insider also reported on OKEx’s decision not to remove the asset. “BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being,” OKEx said in an April 16 statement.