Bitcoin SV investors have approached the UK Court of Appeal to revive their lawsuit against cryptocurrency exchange Binance, claiming the delisting adversely affected their investment growth.
Investors' Position and Arguments
The lawsuit claims that Binance's actions led to a 'forgone growth effect,' preventing Bitcoin SV from becoming one of the leading digital currencies. Investors argue they could have made significant gains if the token had not been delisted.
Court's Decision and Comments
In July 2024, the Competition Appeal Tribunal dismissed part of their complaint but also did not grant Binance's full request to dismiss the case. Investor lawyers insist that the delisting has caused a permanent loss of value, as trading opportunities were limited.
Link to Other Platforms
The case against Binance is part of a larger lawsuit involving Kraken and other platforms that delisted Bitcoin SV in 2019. Notably, the case was filed on behalf of all UK-based Bitcoin SV holders during the specified period, estimated at around 243,000 investors.
The revival of the lawsuit against Binance underscores the complexities of cryptocurrency market regulation and the legal issues surrounding token delistings, which could lead to courtroom confrontations.
