Bitcoin SV plunges after CZ announces it’s to be delisted from Binance

Bitcoin SV was created in November 2018 after an acrimonious hard-fork of Bitcoin Cash and has always had a tumultuous run thanks to its most outspoken advocate, Craig Wright.

However, it appears Wright went a step too far. Today, Binance announced that it will delist Bitcoin SV, immediately causing the cryptocurrency to plunge by 10%.

At 10:00 AM UTC on 2019/04/22, Binance will delist and cease trading on all trading pairs on Bitcoin SV. In the announcement, Binance says “we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, .. [we] potentially delist it.”

CZ made the announcement on Twitter:

The announcement comes after some drama involving Bitcoin SV’s backer Craig Wright, who claims to be Satoshi Nakamoto, the inventor of the original Bitcoin (BTC). Wright recently offered a bounty of $5,000 for the doxing of one of his online critics, Twitter user “hodlnaut.”

Furthermore Wright last week issued legal notices to several of his critics, including host of the crypto podcast What Bitcoin Did, Peter McCormack, who has publicly asserted that Wright is not the inventor of Bitcoin. McCormack was threatened with a lawsuit for libel on this basis.

The delisting follows several tweets from the Binance CEO where he backed the position of McCormack that Craig Wright is not Satoshi, and threatened to delist the coin:

Binance is a huge influencer in the cryptocurrency market, and the immediate aftermath of the announcement saw Bitcoin SV plunging by 10%.

Bitcoin Cash, which will potentially benefit from Bitcoin SV’s demise, was the complete opposite with an 11% rally in price.