Home / Archive / Weird Flex: OKEx Refuses to #DelistBSV, SBI Holdings Delists Bitcoin Cash Instead

Weird Flex: OKEx Refuses to #DelistBSV, SBI Holdings Delists Bitcoin Cash Instead

Last Updated March 4, 2021 2:44 PM
P. H. Madore
Last Updated March 4, 2021 2:44 PM

By CCN.com: It seems the Crypto Twitter movement to eradicate Bitcoin SV from all exchanges has not been totally successful. In a significant blow, massive veteran exchange OKEx has opted to keep Bitcoin SV on its platform, writing:

“According to the OKEx Token Delisting and Hiding Guideline, BSV currently does not meet our delisting criteria. As such, OKEx has no intention to delist BSV for the time being. As a neutral platform, OKEx respects the efforts of all dedicated teams in advancing the technology of Bitcoin and has no inclination to certain technical directions.”

OKEx to Eat up Bitcoin SV Volume

The decision follows a “rigorous review” by the exchange. It’s unclear at present how this might affect their business. The exchange recently sought to attract larger clients, but many of the largest crypto traders have taken umbrage to the legal threats and drama of Craig Wright and Calvin Ayre.

Thus far, exchanges like Binance and ShapeShift have been celebrated for their decision to remove the cryptocurrency. Bitcoin SV’s largest market in recent times, BitForex, is currently running a poll to decide whether it will be the next to delist Bitcoin SV. Kraken has not yet made an announcement.


SBI Holdings Lashes Out At BCH Instead

In a strange move, Japanese exchange SBI Holdings has decided to delist Bitcoin Cash. The exchange – which does not appear to support BSV – blames losses to BCH’s market capitalization as the reason for delisting, and says it will have completed the delisting by the end of April . Customers will have until the end of June to withdraw their BCH from SBI’s VC Trade platform.

Google translates the notice as saying, in part:

“As a result, there is a high possibility that a 51% attack will be carried out and the fraudulent transaction will be distributed to the record of the block generated next.”

If Bitcoin Cash meets these requirements, then Bitcoin SV most certainly does. The BSV fork has the lowest continual hashrate of the three Bitcoin versions, and it has suffered a more than 20% drop in market capitalization just since the announcement of Binance’s delisting.

Virtually every service provider in the industry is under some pressure to remove Bitcoin SV from its platform. Some are using it as a marketing opportunity, while others are honestly considering the implications. The strength of the anti-SV movement seems to have the majority at this point. Crypto exchanges which have yet to choose to delist Bitcoin SV can always do it later if customers quit in protest.

#DelistBSV: Just Getting Started?

Up and coming wallet provider Magnum Wallet is considering the prospects of removing Bitcoin SV, while Blockchain announced as much yesterday.

In some corners of Crypto Twitter, people are simultaneously pushing for changes to the listing of Bitcoin Cash. Some have asked for it to rename itself, while others would like to see it delisted alongside Bitcoin SV.

bitcoin sv twitter controversy
Some crypto partisans want to lump BCH in with #DelistBSV. | Source: Twitter

The Bitcoin Cash price has risen throughout the #DelistBSV debacle.