Coinbase (COIN) has issued a notice instructing users to remove their Bitcoin SV (BSV) from the platform by January 9 or risk facing liquidation. The statement from Coinbase warns, “If you fail to withdraw your BSV funds, Coinbase will liquidate any remaining BSV remaining in your Coinbase account.”
Bitcoin SV, often associated with Craig Wright as the pure “Satoshi’s Vision” version of bitcoin (BTC), experienced a 1.74% decline in response to the news, as per CoinDesk indices data. Despite this, the token has limited trading activity, with a daily volume of $29.5 million and a market cap of $945 million.
Numerous other cryptocurrency exchanges have already removed BSV, citing reasons such as Craig Wright’s conduct and the series of 51% attacks suffered by BSV in 2021. A 51% attack occurs when malicious miners control more than half of a blockchain’s mining power, enabling them to undermine the network by invalidating legitimate blocks in favour of their own longer chain.
In 2019, Binance CEO Changpeng Zhao delisted BSV from the exchange, labelling Wright as a fraud. Zhao stated, “The real Satoshi can digitally sign any message to prove it. This is as simple as breathing for them. And we have the pub key,” in a post on X at that time.