Cryptocurrency exchange Kraken announces Bitcoin SV delisting

The US-based cryptocurrency exchange Kraken announced the decision to delist “toxic” Bitcoin SV (BSV), following the results of the poll launched by the company in Twitter. Over 70% of the participants answered that the coin was toxic and should be removed from the platform. 

“Over the last few months, the team behind Bitcoin SV have engaged in behaviour 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,” the company wrote in the blog post with the delisting announcement.  

Kraken will stop BSV trading on May 1, while users will have time until May 15 to withdraw assets from the platform. 

Cryptocurrency exchange Binance and ShapeShift also announced Bitcoin Cash delisting. The decision gained massive support among cryptocurrency community members enraged by the behaviour of Craig Wright, the self-proclaimed creator of Bitcoin Satoshi Nakamoto. 

Meanwhile, the Maltese OKEx decided otherwise. The exchange said that it would not delist Bitcoin SV as the project was not in a breach with the existing rules and requirements.  SBI Virtual Currencies chose to delist Bitcoin Cash (BCH) and keep Bitcoin SV.

Bitcoin SV lost nearly 30% of its value in recent two days amid the ongoing spat and delisting news. While, the selling pressure receded during Asian hours on Wednesday, the coin is still vulnerable to new losses.