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Thursday, June 6, 2024
HomeCryptoBritish court begins handling $9 billion Bitcoin SV delisting lawsuit

British court begins handling $9 billion Bitcoin SV delisting lawsuit

According to According to data from BitMEX Research, each of the six defendants has its own legal team, resulting in a large number of lawyers involved in the case and a large amount of documents.

The court estimates that the class action order, or CPO, is expected to take three days.

Source: BitMEX Research
Source: BitMEX Research

Bitcoin SV (BSV) is a blockchain and cryptocurrency that forked from Bitcoin Cash (BCH) in 2018. The name “Bitcoin SV” refers to “Satoshi’s vision” and was founded by a joint blockchain development company. associated with Craig Wright, who claims to be Satoshi Nakamoto, the anonymous creator of Bitcoin.

The Bitcoin Cash fork war has caused a split in the community, with prominent companies and personalities such as Roger Ver, Bitmain, and exchanges such as Binance and Coinbase supporting another forked coin, Bitcoin. ABC.

Why did Binance, Kraken and ShapeShift delist BSV in 2019?

The class action lawsuit revisits the Bitcoin SV (BSV) delisting scandal in April 2019, when exchanges such as Binance and Kraken did not provide clear reasons for the decision. Kraken said that BSV has behavior that is “contrary” to its values ​​and the cryptocurrency community, while Binance only said that BSV does not meet their standards.

These exchanges face a $12 billion class action lawsuit in the UK in 2022. Plaintiff BSV Claims seeks $9 billion in compensation for BSV investors who were harmed by increased opportunities Chief missed after delisting.

Read more: BitGo’s lawsuit against Galaxy Digital may proceed

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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