#delistbsv: Kraken Joins ShapeShift, Binance and Others Saying Goodbye to Bitcoin SV

| Updated
by Darya Rudz · 4 min read
#delistbsv: Kraken Joins ShapeShift, Binance and Others Saying Goodbye to Bitcoin SV
Photo: Kraken Blog

Kraken will disable BSV deposits on April 22, trading will be ceased for all trading pairs on April 29th and, finally, withdrawals will be disabled on May 31st.

The US-based crypto exchange Kraken has announced that they are delisting Bitcoin Satoshi’s Vision (Bitcoin SV), a full-node implementation for Bitcoin Cash. In this move, Kraken follows Binance and ShapeShift that have already done the same.

On April 15, Kraken asked the community’s opinion on whether BSV should be delisted. The results of the poll are as follows:

On April 17, Kraken has announced delisting BSV based on the public opinion. Kraken will disable BSV deposits on April 22, trading will be stopped on all trading pairs on April 29 and, finally, withdrawals will stop on May 31.

Kraken explained:

“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. It started with fraudulent claims, escalating to threats and legal action, with the BSV team suing a number of people speaking out against them. The threats made last week to individual members of the community were the last straw. ”

The exchange added:

“This aggression will not stand. Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV.”

It is notable that Binance and ShapeShift have also taken this decision due to the inappropriate behavior of Craig Wright, the outstanding proponent of Bitcoin SV, who ostracized himself from the crypto community several times by claiming he is the real Satoshi Nakamoto and threatening to sue everybody who claims he isn’t.

As we have reported, Binance will also stop trading BSV on April 22. Earlier, Binance CEO Changpeng Zhao had warned Craig Wright that if he continued to behave in an aggressive manner, Binance would delist BSV.

Kraken’s CEO Jesse Powell admitted that the exchange was not a ‘big fan of the project’, but decided to support trading BSV because of customer demand. However, Powell noted that the coin didn’t necessarily meet Kraken’s listing standards.

The exchange said:

“Cryptocurrency is about creating a better world. At Kraken, we take this mission seriously. Our focus is on delivering the freedom digital currencies offer. Freedom from centralized systems, financial freedom and critically, freedom from oppression. Our vision of the future doesn’t work unless it works for everyone.”

Kraken added:

“A secure, sustainable and trustworthy ecosystem is only possible if community members live by these values. Crypto’s future is bright. There is no room for bad actors. We appreciate the community’s support as we work together to create the world we want to see.”

Earlier, two other tokens were delisted by Kraken. Support for Namecoin was stopped because of its low volume and the necessity to support a technically onerous upgrade at some point. The other token, Iconomi, was delisted after its protocol was changed by the creators.

OKEx Keeps Bitcoin SV, SBI Holdings Delists Bitcoin Cash

While some exchanges deal with unethical behavior of Craig Wright and stop supporting Bitcoin SV, others do not see any reason for joining the movement. OKEx, the leading global Bitcoin exchange, was considering delisting BSV, but after a rigorous review, it was decided to keep the currency.

OKEx explained:

“According to the OKEx Token Delisting and Hiding Guideline, BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being. As a neutral platform, OKEx respects the efforts of all dedicated teams in advancing the technology of Bitcoin and has no inclination to certain technical directions.”

A no less strange decision has been made by Japanese SBI Holdings. The exchange has started delisting Bitcoin Cash, explaining it by low market performance. By the end of April, support for Bitcoin Cash will be fully ceased. Until the end of June, customers will have to withdraw their BCH from SBI’s VC Trade platform.

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