Bitcoin SV Holders Mount Legal Hail Mary Against Binance—Will It Work?

In a move that reeks of desperation—or diamond-handed conviction—Bitcoin SV backers are reviving their lawsuit against Binance. The exchange delisted the contentious fork years ago, but true believers keep swinging.

Legal long shot or calculated power play? Either way, it’s another day in crypto’s endless courtroom drama. Just don’t expect the ’market’ to care—price action waits for no lawsuit.

Multi-billion pound claim at stake

The revived case could result in one of the largest damages claims in cryptocurrency history, with BSV investors pursuing compensation that reportedly exceeds £10 billion (approximately $13 billion) for alleged market manipulation and anti-competitive behavior.

Market analysts note that the renewed legal action coincided with a temporary price spike for Bitcoin SV. The coin saw a 15% gain before settling at the $42 range at press time. Despite this momentary rally, the cryptocurrency trades below its all-time highs.

The controversy arose from Binance’s decision to delist BSV in April 2019, during a contentious industry discussion about the coin’s founder and his dubious claims about the beginnings of Bitcoin. Several other major exchanges followed with similar delisting actions shortly thereafter.

Industry observers suggest this case could establish important precedents regarding the authority exchanges have in determining which cryptocurrencies remain accessible to traders, and whether delisting decisions can be considered anti-competitive practices under existing regulatory frameworks.

BSV, which emerged following a contentious hard fork, has faced several technical and security challenges in recent years. Critics say its network vulnerabilities are justification for the original delisting decisions.

The exchange has previously maintained that its listing policies are applied consistently based on technical merit and community standards rather than targeted action against specific projects.