The UK Court of Appeal dismissed the main part of the lawsuit by Bitcoin SV (BSV) investors against cryptocurrency exchanges Binance, Kraken, ShapeShift, and Bittylicious. The plaintiffs sought compensation of $11.9 billion, claiming that the delisting of BSV in 2019 resulted in a loss of potential profits. The court deemed these claims speculative, noting that investors could have minimized losses by selling BSV or investing in other assets after the delisting announcement. The court also emphasized that BSV was not a unique cryptocurrency without analogs, referring to bitcoin and Bitcoin Cash.
The delisting of BSV was associated with controversies surrounding Craig Wright, who claimed to be Satoshi Nakamoto, which drew criticism from Binance CEO Changpeng Zhao. The court left open the question of insufficient user information regarding the delisting, but the amount of compensation, if any, will be limited to the value of the assets at the time of delisting. This decision was a legal victory for Binance.
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