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 Exchange Update: Binance, Bitfinex, Bitstamp, Huobi Global, and Poloniex

Siamak Masnavi

The "Crypto Exchange Update" covers the latest news from Binance, Bitfinex, Bitstamp, Huobi Global, and Poloniex for the week 14 October 2019 to 20 October 2019.

Binance

  • October 14: Binance announced that it would be launching the phase 9 of Binance Lending Products at 12:00 UTC on 16 October 2019. This is when 14-day fixed term lending products for BNB, BTC, BUSD, ETH, MATIC, and USDT became available.
  • October 15:
    • Binance.US listed Dash (DASH).
    • Binance and swiss firm Amun AG jointly announced the launch of a BNB Exchange-Traded Product (ETP) on the regulated segment of the SIX Swiss Exchange.
    • Binance announced support for the staking of Harmony (ONE) tokens on Binance starting on 16 October 2019.
    • Binance introduced the Binance Academy mobile app (available for both iOS and Android).
  • October 16: Binance announced that the next token to go on sale on its IEO platform Binance Launchpad would be Kava (KAVA).
  • October 17:
    • Binance.US listed Algorand (ALGO) and Zcash (ZEC).
    • Binance announced that it had completed the 9th quarterly BNB coin burn (2,061,888 BNB, worth roughly $36.7 million, was burnt).
  • October 18:
    • Binance Futures increased maximum leverage from 20x to 125x for BTC/USDT contracts. 
    • Binance.US said that from 18 October 18 2019, "USD deposits are eligible for FDIC insurance coverage."

Bitfinex

On October 17, Bitfinex announced the launch of the Bitfinex Affiliate Program. Bitfinex customers who join this program and become affiliates can potentially earn "unlimited commission" by sharing invite links across their social media channels.

Bitstamp

On October 15, Bitstamp, Europe's largest crypto exchange by trading volume, announced that it is integrating Ledger Vault’s technology to "enable advanced custody options." Bitstamp and Ledger's joint press release said that Ledger Vault Ledger Vault "will provide flexible wallet tech infrastructure that will allow Bitstamp to set up a sophisticated and very secure custody system with end-to-end hardware backed transfers and a strong multi-authorization governance model, ensuring there are no single points of failure and allowing better management of assets in storage."

Huobi Global

On October 15, Huobi Global said that it had "completed the repurchase and burn of HT for Q3 2019 (a total of 11.3321 million HT, approximately equivalent to 40.6369 million USDT), of which, 8.3389 million HT was directly repurchased from the secondary market, with 2.9932 million HT derived from HT fee income."

Then, on October 18, Huobi announced that it planned to launch a fiat gateway in Turkey that will allow local investors/traders to buy Tether (USDT) with the local currency (the Turkish Lira) via their bank accounts. Then, they can trade USDT against any of the 250 cryptoassets supported by Huobi Global.

Poloniex

On October 18, Poloniex announced that it was being spun out from its parent, FinTech startup Circle, into a new company, Polo Digital Assets, Ltd., "with the backing of a major investment group" so that it would be free "to focus on the needs of global crypto traders with new features, assets and services."

Unfortunately, there was some bad news for Poloniex's U.S. customers since Polo Digital Assets won't be supporting them, which means that (i) U.S. persons will not be allowed to create accounts on Poloniex; and (ii) from 1 November 2019, U.S. customers won't be able to do any more trading on Poloniex, though they can make withdrawals via Circle until 5 December 2019.

 

Featured Image Credit: Photo via Pixabay.com