In a bold move, crypto giant Binance has moved to dismiss the bulk of a high-stakes London lawsuit, valued at £10 billion ($12.8 billion), alleging collusion among exchanges, including Kraken, in delisting Bitcoin Satoshi Vision (BSV).
The lawsuit, filed at London’s Competition Appeal Tribunal (CAT) on behalf of over 200,000 BSV owners, accuses exchanges of anti-competitive practices leading to BSV’s delisting in 2019, causing its value to plummet and hindering its rise as a top-tier cryptocurrency.
While BSV Claims, the entity spearheading the case, seeks certification under the UK’s collective proceedings regime, Binance has pushed to exclude claims regarding BSV’s potential. Binance’s counsel contends that BSV holders made voluntary decisions and had viable alternatives.
BSV Claims’ legal team insists on proceeding to trial, arguing the issue’s relevance alongside the broader case.
Both Binance and Kraken declined detailed comments on the ongoing litigation, with Kraken labeling the lawsuit as “baseless.”
The delisting of BSV in 2019 followed controversies surrounding Australian computer scientist Craig Wright, who claimed to be Satoshi Nakamoto, the pseudonymous inventor of Bitcoin. Wright’s recent legal setbacks have further clouded BSV’s narrative, prompting speculation about its future in the crypto landscape.
