Investors represented by BSV Claims Ltd, led by Lord David Currie, are seeking to revive a $13.3 billion lawsuit regarding the delisting of Bitcoin SV in 2019.
Involvement of BSV Claims Ltd in the Lawsuit
BSV Claims Ltd, led by Lord David Currie, has filed to revive a $13.3 billion lawsuit. The claim addresses alleged collusion by major exchanges that led to the delisting of Bitcoin SV in April 2019. The lawsuit implicates Binance, Kraken, Bittylicious, and ShapeShift, accusing them of harming investors by artificially suppressing BSV prices. Legal actions claim unlawful market manipulation occurred.
Consequences of BSV Price After Relisting
The relisting of BSV on Binance in October 2023 led to a 40% price surge. As of July 31, 2024, BSV was up 14% in one week. If upheld, the case could bolster UK crypto regulations, ensuring exchanges adhere to competition laws. This outcome might significantly impact exchange delisting policies and investor confidence.
Historical Delisting Events and Their Market Impact
Similar events, like the 2019 BSV delisting, previously affected asset liquidity and garnered legal scrutiny. Historically, coordinated delistings result in market instability and investor losses. Experts suggest that if the claim succeeds, it may prompt exchanges to re-evaluate delisting criteria.
The revival of the $13.3 billion lawsuit is a significant step towards investor protection and may reshape standard practices in the cryptocurrency market.
