Investors in Bitcoin Satoshi’s Vision (BSV) are making a renewed push to revive a 2019 lawsuit against crypto exchange Binance, alleging the platform’s decision to delist the token severely impacted its long-term value.
BSV, which currently trades around $42, is a hard fork of Bitcoin Cash (BCH), which itself forked from the original Bitcoin (BTC) network.
According to Law360, the plaintiffs are asking for the UK Competition Appeal Tribunal to revisit a July 2024 ruling that dismissed their “loss of chance” claim.
BSV Backers Blame Binance Delisting for Altcoin’s Decline
They argue that Binance’s decision to delist BSV, along with similar actions by other major exchanges, effectively suppressed the altcoin’s market potential.
The original claim sought $9 billion in damages, but the investors now say they could pursue up to £10 billion (approximately $13 billion) if the case moves forward.
The legal team contends that BSV never recovered from the delistings and continues to underperform due to lack of visibility and trading access.
Despite a 15% price bump following news of the revived legal effort, BSV remains in a persistent downtrend and has failed to gain meaningful market share or network power relative to Bitcoin.
Binance removed BSV in April 2019, citing concerns over its listing standards.
The move followed repeated claims by BSV’s creator, Craig Wright, who has long asserted—without proof—that he is Satoshi Nakamoto, Bitcoin’s pseudonymous founder.
Former Binance CEO Changpeng Zhao had publicly warned that Wright’s behavior could result in delisting.
Since then, BSV has also been the target of several 51% attacks, undermining trust in its blockchain’s security and stability.
These setbacks have only deepened skepticism about the project’s viability, even as its backers press ahead with legal action.
CZ Confirms Pardon Request After Initial Denial
Last week, CZ confirmed that he has formally applied for a presidential pardon, weeks after initially denying reports of such a move.
Speaking on the Farokh Radio podcast aired May 6, Zhao said his legal team filed the request following widespread media speculation.
“I got lawyers applying,” Zhao said during the interview, saying that he ultimately decided to move forward after stories from Bloomberg and The Wall Street Journal suggested he was pursuing a pardon from former U.S. President Donald Trump.
“If they’re writing this article, I may as well just officially apply,” Zhao added.
The former crypto mogul pleaded guilty to violating the Bank Secrecy Act in November 2023 as part of a settlement with U.S. authorities.
The agreement led to Binance paying $4.3 billion in fines, with Zhao personally contributing $50 million.
He was sentenced to four months in prison and barred from holding any management position at Binance as a condition of the deal.
Zhao has since shifted focus to international advisory work, offering guidance to governments in Pakistan and Kyrgyzstan on crypto regulation and blockchain integration.
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