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Crypto Exchange Kraken Takes a Cue from Binance, Delists Bitcoin SV

Last Updated March 4, 2021 2:44 PM
Gerelyn Terzo
Last Updated March 4, 2021 2:44 PM

By CCN.com: Add Jesse Powell to the chorus of crypto exchange CEOS who are done with Craig Wright’s games. San Francisco-based crypto exchange Kraken has announced that it will be delisting Bitcoin SV (BSV), following in the trend-setting footsteps of Binance and later ShapeShift.

Kraken has been engaging with its community about it ever since Binance CEO Changpeng “CZ” Zhao got the ball rolling earlier in the week. In an online poll, nearly three-quarters of Kraken’s followers voted in favor of delisting Bitcoin SV while more than one-fifth of tens of thousands of voters said they didn’t care. Kraken responded , revealing that the last day for trading Bitcoin SV would be May 1 while withdrawals will continue until May 15.

“The people have spoken. Kraken is delisting Bitcoin SV.”

Get Kraken

Kraken is one of the first couple crypto exchanges to take CZ’s challenge and “do the right thing.” ShapeShift CEO Erik Voorhees didn’t waste any time, revealing on April 15 that ShapeShift would be rid of Bitcoin SV within 48 hours.

If you ask CZ, he could have told you that it was just a matter of time before Powell pulled the BSV plug, tweeting that the “crypto industry is tighter and stronger [than] you think.”

Tainted Bitcoin SV

Craig Wright ostracized himself from the rest of the crypto community several times over. Not only did he claim to be Satoshi Nakamoto, which everyone knew was a lie, but he threatened to sue anyone who called him out for the fraud. Kraken had enough, saying in the announcement:

“Over the last few months, the team behind Bitcoin SV have engaged in behavior 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. “

Among those who made Wright’s hit list was Peter McCormack of the What Bitcoin Did podcast. McCormack is keeping tabs on which exchanges and wallets join the fight against Wright.


Winklevoss Chimes in on Bitcoin SV Saga

Perhaps those enjoying the turn of events at the expense of Craig Wright the most are those crypto trading platforms that avoided Bitcoin SV to begin with. CCN.com reported earlier today that eToro managed to avoid the drama, but they weren’t alone. Gemini’s Tyler Winklevoss reminded his followers of the exchange’s prescience in the matter.

Bitcoin SV Price Tumbles

According to CoinMarketCap, Kraken supported BSV in BSV/EUR, BSV/USD, and BSV/BTC trading pairs. Meanwhile, the Bitcoin SV price has shed 5% in the last 24 hours. Based on the pace of delistings, the declines could be just the beginning.

Bitcoin SV, Craig Wright, Jesse Powell, Kraken
Bitcoin SV’s steady decline | Source: CoinMarketCap