Binance Delists Bitcoin Satoshi's Vision (BSV) Following Craig Wright Drama

Colin Muller

Binance Image.jpg

In a dramatic move, leading cryptoasset exchange Binance announced today that it will delist Bitcoin Satoshi’s Vision (BSV).

The delisting will take place on April 22 at 10:00 UTC, and at that time all BSV trades will be cancelled and removed from the orderbooks. The cryptoassets will be available for withdrawal from Binance until July of this year.

The move comes after a period of intense online drama involving BSV’s backer Craig Wright, who claims to be Satoshi Nakamoto, the inventor of the original Bitcoin (BTC)

As CryptoGlobe reported, Wright recently offered a bounty of $5,000 for the doxing of one of his online critics, Twitter user “hodlnaut.”

Further, Wright last week issued legal notices to several of his critics, including host of the crypto podcast What Bitcoin Did, Peter McCormack, who has publicly asserted that Wright is not the inventor of Bitcoin. McCormack was threatened with a lawsuit for libel on this basis.

Changpeng Zhao (CZ) Follows Through on Threat

The delisting follows several tweets from the Binance CEO where he reaffirmed the position of McCormack and much of Crypto Twitter that Craig Wright is not Satoshi, and threatened to delist the coin:

In the official announcement on Binance's website, the exchange outlined its process for delisting assets, explaining that it conduct reviews "periodically" to determine if a cryptoasset "continues to meet the high level of standard we expect." Among the factors the exchange says it considers during this review are "evidence of unethical / fraudulent conduct" and "contribution to a healthy and sustainable crypto ecosystem."

Binance Moves Markets

The immediate market reaction to this news has not been kind, showing Binance’s influence in the industry. At the time of writing, BSV is already down 10% versus USDT. 

BSVUSDSource:CryptoCompare

The price effect on Bitcoin Cash (BCH), instead, has been the complete inverse, with the crypto seeing an 11% rally in price - presumably also as a direct result of the news. Being the direct competitor, in a sense, to BSV, this should come as no surprise after the fractious hard fork in November of 2018.

BCHUSDSource: CryptoCompare

Crypto Market Update: Focus on BTC, ETH, BCH, BNB, XMR, and DASH

Siamak Masnavi

This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Binance Coin (BNB), Monero (XMR), and Dash (DASH)—over the past 24-hour period.

Overall, September 17th is proving to be a bit of a mixed day, with 12 of the top 20 cryptocurrencies (by market cap) in the red at press time (around 06:25 UTC).

BTC-USD

BTC-USD 24 Hour Chart - 17 Sep 2019.png

The bad news is that are still waiting for the launch of Bakkt's physically-delivered daily and monthly Bitcoin futures contracts. So, Bitcoin is still trading mostly sideways, hovering around the $10,300 mark. The good news is that the launch is expected to take place in less than one week (i.e. on September 23), as was confirmed by this tweet that Bakkt sent out on September 16:

ETH-USD

ETH-USD 24 Hour Chart - 17 Sep 2019.png

The Ether (ETH) price continues its upward movement toward the $200 mark, up another 2.24% in the past 24-hour period (making it up 4.32% in the past 7-day period). What may have helped the Bitcoin price yesterday (September 16) is the announcement by crypto payment processor BitPay that in the near future it will be possible for its customers to accept Ether payments for purchases of goods and services. Also, the BitPay wallet will support Ether.

Ethereum co-founder Vitalik Buterin had this to say about the news:

"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.

BCH-USD

BCH-USD 24 Hour Chart - 17 Sep 2019.png

On Monday (September 16), Bitcoin.com announced that it had entered into a strategic partnership with Taiwanese smartphone manufacturer HTC, as a result of which the Bitcoin.com wallet will come preinstalled on HTC's current and upcoming blockchain phones (Exodus 1 and Exodus 1s):

BNB-USD

BNB-USD 24 Hour Chart - 17 Sep 2019.png

Although BNB is currently in the red, this may change during the next several hours once all of the six mini announcements that Binance plans to make today have come out:

The first of the six announcements that Binance CEO Changpeng Zhao (aka "CZ") referred to is the addition of support for Cosmos (ATOM) to Binance's Margin Trading platform:

XMD-USD

XMR-USD 24 Hour Chart - 17 Sep 2019.png

OKEx Korea announced on Monday (September 16) that it intends to delist all five privacy coins it is currently supporting, i.e. XMR, DASH, ZEC, ZEN, and SBTC, due to concerns that these cryptocurrencies do not allow it to implement FATF's so-called "travel rule". 10 October 2019 is the date on which transaction (i.e. trading) support ends.

DASH-USD

DASH-USD 24 Hour Chart - 17 Sep 2019.png

Since OKEx Korea's delisting announcement mentioned DASH, you would expect it to be down today, just like XMR. However, it is not, and that is very likely due to the fact that today (September 17) is the day that trading in DASH is expected to start on Coinbase Pro on/after 09:00 PST (16:00 UTC) provided that there is sufficient liquidity.

Featured Image Court: Photo via Pixabay.com