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Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)

Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)

Binance, the world’s largest crypto exchange by reported volume, will delist bitcoin SV (BSV) after a week of controversy around the cryptocurrency’s creator, Craig Wright. Binance Delists Bitcoin SV, CEO Calls Craig Wright A ‘Fraud’ (#GotBitcoin?)

The exchange announced Monday that it would be delisting all BSV trading pairs on April 22, just days after Binance CEO Changpeng Zhao (CZ) threatened to do so if Wright did not cease attacks on Twitter users claiming the latter is not Satoshi Nakamoto, the pseudonymous creator of bitcoin.

In Binance’s announcement, the exchange says “we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect,” citing a number of factors it weighs.

These include the commitment of a team to the project, the level and quality of its development activity, its network and smart contract stability, the level of public communication, responsiveness to periodic due diligence requests, evidence of unethical or fraudulent conduct and its contribution to the crypto ecosystem.

However, it is likely that BSV is being deleted at least in part due to Wright’s attacks on Twitter user hodlonaut (who started the Lightning Network “torch“) and other individuals. Specifically, Wright placed a bounty on hodlonaut’s identity after the latter claimed Wright is not Satoshi. CZ said Binance would delist BSV if Wright continued these attacks.

Wright has for the last several years claimed he is the person behind the pseudonym Satoshi Nakamoto, but his evidence for this claim has been widely disputed.

In a series of follow-up tweets, CZ said “Craig Wright is a fraud,” that “the real Satoshi can digitally sign any message to prove it,” and that doing so would be simple.

Wright has sent legal cease-and-desist letters to other individuals claiming he is not Satoshi, including Peter McCormack, the host of the “What Bitcoin Did” podcast.

Binance will continue to support BSV withdrawals until July 22.

Later Monday, ShapeShift CEO and longtime crypto entrepreneur Erik Voorhees announced that his crypto-to-crypto exchange would also delist bitcoin SV, for the same reasons.

“We stand with Binance and CZ’s sentiments,” Voorhees tweeted. BSV will be removed from ShapeShift in 48 hours, he said.

Another influential exchange, San Francisco-based Kraken, indicated it is at least considering delisting BSV, asking Twitter users in a poll whether it should do so.

Updated: 3-2-2020

Bitfinex To Delist Nearly 50 Cryptocurrency Trading Pairs On March 6

Bitfinex, the 11th largest cryptocurrency exchange by daily trading volume, will remove dozens of cryptocurrency trading pairs later this week.

According to a March 2 blog post, Bitfinex will remove 46 crypto trading pairs on Friday, March 6 due to low liquidity on the platform.

The cryptocurrency exchange noted that the delisting of the trading pairs is a common measure that is expected to improve liquidity on Bitfinex platform and lead to a “more streamlined and optimized trading experience for our users.”

The majority of trading pairs that are planned to be removed on Friday include a wide list of altcoins trading against Ether (ETH), the second-biggest cryptocurrency by market cap. That list includes about 30 trading pairs including altcoins like OKEx token (OKB), Verge (XVG) and Nucleus Vision (NCASH).

Another 16 trading pairs include altcoins trading against Bitcoin (BTC), including pairs like Hydro Protocol (HOT)/BTC and Medicalchain (MTN)/BTC. Other trading pairs include two altcoins traded against Dai (DAI): OmiseGO (OMG)/DAI, 0x (ZRX) /DAI, and one trading pair with Japanese Yen, XVG/JPY.

Bitfinex recommended users to cancel any open orders with the above trading pairs before March 6 10:00 AM UTC, noting that all remaining open orders will be automatically canceled by the system.

According to data on cryptocurrency tracking service CoinGecko, Bitfinex currently supports about 350 trading pairs on its platform. As of press time, Bitfinex’s daily trading volume accounts for about $118 million, according to data from Coin360.

Cointelegraph reached out to Bitfinex for additional comments but did not receive an immediate response. This story will be updated should they respond.

As reported by Cointelegraph, liquidity in cryptocurrency refers to the level of ease with which a crypto asset can be exchanged for cash without affecting the price of that asset. Delisting is a common measure for increasing liquidity for cryptocurrency exchanges. Back in 2019, Binance delisted about 30 trading pairs in a move to improve liquidity and user trading experience, noting that the choice of the trading pairs was as “requested by most project teams.” Binance Delists Bitcoin SV,Binance Delists Bitcoin SV,Binance Delists Bitcoin SV,Binance Delists Bitcoin SV

 

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