Kraken finally joins the #DelistBSV club, stating "no room for bad actors"

17 Apr, 2019 | Updated: 17 Apr, 2019
by Fifi Arisandi
Kraken finally joins the #DelistBSV club, stating no room for bad actors

Kraken announced the delisting of Bitcoin SV (BSV) from their platform on a blog post dated April 16.  

After consulting with their users/followers through a friendly poll on Twitter, San Fransisco-based cryptocurrency exchange, Kraken finally decided to join the #delistBSV club.

As many as 70,545 Twitter users are said to have casted their vote on the poll that asked “Should Kraken delist Bitcoin SV (BSV)? and the result showed that 71% chose the “Yes, it’s toxic” option, 22% voted “I don’t care”, and only 7% didn’t recommend the exchange to do so.

Those who disagree if Kraken delists BSV are torn between 2 reasons, 4% thought “No, need price discovery”, whereas 3% considered BSV is awesome.

On the delisting announcement posted on their blog on April 16, Jesse Powell’s team highlighted how the team behind Bitcoin SV have engaged in behavior “completely antithetical” to Kraken’s mission, which is the use of cryptocurrency to create a better world.

Moreover, the team elaborated their focus to help deliver the “freedom digital currencies offer”, such as freedom from centralized systems, financial freedom and critically, freedom from oppression.

“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 announcement wrote.

In more details, the delisting will be effective from April 22, when deposits will be disabled, and on April 29 trading activity will cease. Kraken gives the chance for their users to perform withdrawals up to May 31.

“Crypto’s future is bright. There is no room for bad actors,” Kraken closed their announcement.

The "BSV delisting movement" was "initiated" by Binance, after the BSV team ignored CEO Changpeng Zhao's warning to stop bullying Twitter users who expressed their disagreement with Craig Wright's Satoshi Nakamoto claim.

Responding to the warning, Calvin Ayre lashed out at Binance, calling it "a scammy bucket shop". 

With Kraken's announcement, it means there's been already 3 major exchanges that delist BSV. Erik Voorhees' exchange, took the move, soon after Binance announced their decision. 

The #delistBSV movement has triggered various responses from crypto Twitter users, including renowned figures, such as Vitalik Buterin and Charles Hoskinson. Being one of the people, whom Craig Wright sent his "legal newsletter" to, Buterin commented that more measures should be taken to delist other projects that have operated in the same way as BSV.

However, he also said that "It's possible to agree fully and strongly with this [the aforementioned statement on more measures] and at the same time fully consistently support #DelistBSV.

Hoskinson, on the other hand, addressed the concerns of some Twitter users regarding the "super power" major exchanges like Binance have to the crypto space, which is against the decentralization concept in cryptocurrency.

He said, "Exchanges are not public utilities, they are businesses often run by private owners. If you want a utility, then invest in or use a DEX. Don't complain about the BSV delisting and cite free speech or some other appeal. It doesn't exist with private companies."

The damage of the movement is quite obvious, with BSV price can be seen of plunging from above $80 to $55 in just a couple of days. As of writing time, it is valued at $56.05 and sees a 0.11% loss in the last 24 hours. 

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