Kraken Becomes Latest Exchange to Delist Bitcoin SV

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Kraken is the latest cryptocurrency exchange to delist Bitcoin SV (BSV) amid an ongoing feud between outspoken Bitcoin community members and the coin’s creator Craig Wright. 

Announced Tuesday, San Francisco-headquartered Kraken would stop supporting BSV, citing the ongoing litigation filed against the exchange by the currency’s advocates and community sentiment.

“Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31,” the announcement reads.

Exchanges ShapeShift and Binance have also announced that they were delisting BSV due to Wright’s behavior. On Twitter, Binance CEO Changpeng Zhao said Wright is “poisoning” the Bitcoin community with his threats to sue individuals who refer to him as a fraud for claiming to be Satoshi Nakamoto.

However, Kraken has been negatively disposed toward BSV even before the kerfuffle began. Last December, a federal lawsuit was filed by Florida-based mining firm United Investment Corp. against a group of defendants for supporting Bitcoin Cash ABC, including Kraken and its CEO Jesse Powell.

“They are suing us, our investors, well-respected and prominent figures in the community, and the community got to the point it’s fed up with it,” Powell said. “It’s completely antithetical to what this community is about.”

Kraken polled its Twitter followers on Monday, asking them to vote for or against removing BSV. At press time, around 70,545 users voted, 7% opposing delisting, 21% not caring, and 71% supporting.

“We at Kraken have our own strong opinions, and it’s like a bubble, so putting out a poll was the opportunity to get other people’s opinions,” Powell elaborated.

BSV would not have been delisted if the vast majority of votes were in favor of keeping it. However, if the results were indecisive, say 50/50, Kraken will still delist the coin. Kraken has previously delisted other tokens such as Iconomi and Namecoin.

The delisting wave started when Wright threatened to sue podcaster Peter McCormack and Twitter user Hodlonaut, unless they publicly acknowledge him as Nakamoto.

“It looks they keep to use the law system to abuse it, suing anyone who says anything against them,” Powell stated about BSV supporters.

In addition to Binance and ShapeShift, cryptocurrency apps Bittylicious, Phantasma Chain, SatoWallet, and Blockchain also announced that they would no longer support BSV.

Public relations specialist representing BSV advocate Calvin Ayre, Ed Pownall, referred to a newsletter article by Frnt.io.

“We believe that crypto and certain actors specifically are setting a dangerous precedent in the delisting of BSV,” the article read, elaborating:

“Given the impact that trading venues can have on the visibility and price of a coin, such a subjective delisting sets a precedent which has the potential to increase the space’s vulnerability to manipulation. If a coin can be delisted due to some[one] not approving of a community/person’s legal activities, what’s to say that a similar narrative cannot be created in the future simply to support a malicious actor’s monetary interest.”