Bitcoin SV investors are trying to revive a 2019 lawsuit against Binance, claiming its delisting of BSV harmed the token’s value.
Bitcoin SV Investors Push to Reopen $9B Lawsuit Against Binance Over 2019 Delisting
Bitcoin Satoshi’s Vision (BSV) is a hard fork of Bitcoin Cash (BCH), which is a hard fork of the Bitcoin (BTC) system. Supporters of BSV are trying to bring back a lawsuit from 2019 against crypto exchange Binance for taking the altcoin off their list, which they say hurt the price of BSV.
Law360 says that the claimants’ lawyers said that the UK Competition Appeal Tribunal’s decision in July 2024 to throw out the “loss of chance” claim against Binance for taking the token off the market should be looked at again. In the first case, the people involved asked for $9 billion in penalties.
Investors still say that Binance’s decision to delist BSV in 2019 and other similar decisions of major exchanges are the main reasons for BSV’s long-term price drop and inability to get the same level of investor attention as Bitcoin.
If the group of BSV investors is successful in their civil case and wins, they could ask the exchange to pay them up to 10 billion British pounds (GBP), which is about 13 billion dollars.
After the news came out, the price of BSV went up by about 15% and is now selling at around $42. On the other hand, the altcoin has been going down for a long time and hasn’t been able to take over most of the Bitcoin network’s economic or computer power.
Since then, BSV has been hit by several 51% attacks. In these attacks, malicious nodes take over most of the network’s computer power. They can spend funds twice, taking away one of the main things that makes digital currencies valuable.
