Bitcoin News

Kraken Decides To Delist Bitcoin SV

One of the major US-based cryptocurrency exchange, Kraken conclusively announced to delist Bitcoin SV (BSV) a spin-off of Bitcoin (BTC). The firm confirmed the news through a weblog published on Tuesday, 16th April.

The trading platform, Kraken underlined that: “Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.”

The exchange considered to take suggestions from its users on delisting BSV through social networking platform, Twitter. The results to the poll “Should Kraken delist Bitcoin SV (BSV)?” were as follows,

71 % of the users voted for “Yes, it’s toxic.”

4 % says “No, need price discovery.”

3% in favor of BSV said, “No, it’s awesome.”

22 % of users choose “don’t care” option

Around 70,000 of the end users participated and voted for different alternatives regarding the query.

Prior to Kraken joining the delisting bitcoin SVclub, Binance and ShapeShift are the two other crypto exchange who had already delisted the BSV early of this week.

The firm conveyed through the blog post that BSV has engaged in behavior completely antithetical to Kraken’s objective. Furthermore, the company described the oppression they had to undergo; they claimed,

“It started with fraudulent claims, escalating to threats and legal action, with the BSV team using several people speaking out against them. The threats made last week to individual members of the community were the last straw.”

Jesse Powell’s enunciated that, “We at Kraken have our own strong opinions, and it’s like a bubble, so putting out a poll was the opportunity to get other people’s opinions,”

This is not the first time that the exchange has delisted any token, rather, Kraken has earlier delisted Namecoin and Iconomi including specific other tokens as well. The reason behind the disposal of Namecoin was its low volume while Iconomi was removed due to some changes in the procedure.

Apart from Binance and Shapeshift, Blockchain, Sato Wallet, Phantasma Chain, and Bittylicious are some of the crypto apps that have decided to abandon Bitcoin SV (BSV), as per the announcement made on Monday, i.e. 15 April 2019.

The post was concluded by quoting the following lines,

“There is no room for bad actors. We appreciate the community’s support as we work together to create the world we want to see.”

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