The major United States crypto exchange Kraken is in the latest cryptocurrency news for its recent decision to delist Bitcoin’s (BTC) offshoot named Bitcoin SV (BSV) according to an official announcement by the firm which came on April 16th.
The official press release went viral. Even through there were speculations that Kraken is considering a delisting (especially after Binance delisted Bitcoin SV), the official news came very quickly in which Kraken said that BSV is not suiting the exchange or the crypto community and its standards.
“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 exchange noted.
However, the crypto exchange Kraken and its latest altcoin news also pointed out to the fact that this decision was not made alone by the exchange. As they said:
“Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV. Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.”
There was even a poll which could be answered by Kraken’s users about the decision – in which 71% of the users answered “Yes, it’s toxic” on the question whether the exchange should delist Bitcoin SV (BSV).
The crypto exchange Kraken also cited the erratic behavior such as fraudulent claims, threats and legal action as the main catalysts for the delisting. This decision comes days after Binance and ShapeShift, both reputable cryptocurrency exchanges, have decided to also drop the coin earlier this week.
Even though Kraken’s announcement did not refer to any names, it said that “the threats made last week to individual members of the community were the last straw” and that such aggression won’t stand.
Bitcoin SV’s price is also featured in the coming altcoin news, dropping by more than 30% on the week as a result of the delisting.
Epic Surge Adds 10% ($25bn.) To Crypto Market Overnight
Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT"The FOMO (fear of missing out) is high after the epic surge which resulted in a lot of gains. When markets are on fire like they are now, it is very possible that the rally will continue, analysts claim.
BSV Price Surges By 33% Due To A Copyright Application
“If Bitcoin or any other monetary system seeks to act outside the rules, it becomes an outlaw system, and once it does, it is easy to stop,” he stated.However, one of the most realistic theories behind the BSV price pump in the latest cryptocurrency news is the one in which Calvin Ayre (Dr. Wright's close associate) claimed that the US copyright office had accepted the scholar's claim of being Satoshi Nakamoto - the mysterious Bitcoin creator. Nonetheless, the authorities later clarified that anybody could claim the same, stating that they do not recognize “anyone for anything.”
BitTorrent Token Surges 20% After Justin Sun Tweets Latest Announcement
BitMex Research Shows BCH Experienced Two-Block Chain Reorganization
“Based on our calculations, around 3,392 BCH may have been successfully double spent in an orchestrated transaction reversal. However, the only victim with respect to these double spent coins could have been the original ‘thief.’”As the BitMex research explains, the three interrelated issues during the hard fork brought up 25 transactions (moving 3,392 BCH) not being into the reorganized chain which led to the double spend effect. As reported in the latest cryptocurrency news, at that time, Bitcoin Satoshi Vision (BSV) blockchain which is a result of the previous BCH hard fork struggled with the large block size and then a series of block reorganizations happened back in April. At the start of this year, In January, a deep reorganization of the Ethereum classic (ETC) blockchain happened as well which also included double spending and $1.1 million worth of crypto was involved. The report states further:
‘’The largest concern from all of this, in our view, is the deliberate and coordinated re-organisation. From one side of the argument, the funds were stolen, therefore the actions were justified in returning the funds to their “rightful owners”, even if it caused some short term disruption. However, the cash like transaction finality is seen by many, or perhaps by some, as the only unique characteristic of these blockchain systems.’’
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