As the dominoes continue to fall on the aftermath of the Bitcoin cash hard fork, one more exchange is now making it official – Kraken, a colossal source of crypto trades, is announcing its delisting of Bitcoin SV for an interesting reason.
Typically, exchanges decide what coins to list, or not to list, based on market data and savvy financial principle. However, a press release posted yesterday talking about Kraken’s rationale in this case was anything but economically oriented:
“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.”
Although Kraken writers didn’t specify what kind of threatening activity they meant, rumors are swirling that Craig Steven Wright, the big fish proponent of Bitcoin SV, has added to his wild reputation of claiming that he is the original Satoshi Nakamoto by putting a cryptocurrency “bounty” on some anonymous crypto fan who organized the Bitcoin Lightning Torch event.
Taking an interesting page from the Coen brothers’ blockbuster hit “The Big Lebowski,” Kraken, in the press release, fired a shot across the bow in describing its decision to delist the hard fork offshoot:
“This aggression will not stand –“
Writers also pointed out that the move comes after conducting a substantial user poll on whether Kraken should delist the coin, where 71% responded in the affirmative, saying “Yes, it’s toxic” and another 22% saying they “didn’t care.”
“Alongside other upstanding members of the community, and in consultation with more than 70,000 Kraken users, we have decided to delist Bitcoin SV,” Kraken writers wrote. “Deposits will be disabled April 22. Trading will cease on all trading pairs April 29. Withdrawals will continue until May 31.”
If all of this looks like a lot of nails in Bitcoin SV’s coffin, the cautionary example we could probably take is that to play in the cryptocurrency world, you need a certain minimum amount of diplomacy and good behavior. Otherwise, you start making a lot of enemies, and that can lead to financial decisions made out of malice, rather than fiscal stewardship.
Take a look at the markets for the original Bitcoin Cash as Bitcoin SV continues to circle the drain.