Coinbase is Delisting Bitcoin SV (BSV) From Its Trading Platform
Coinbase recently declared the discontinuation of its support for Bitcoin SV (BSV) in an official statement.
The exchange urged its users to trade their BSV holdings for alternative cryptocurrencies, emphasizing the cessation of support for this particular altcoin.
In its latest communication, Coinbase clarified that users’ BSV assets underwent liquidation, with the resulting equivalent values transformed into different digital assets on the platform and subsequently transferred to respective accounts. Notably, the exchange disclosed the imposition of transaction fees associated with these liquidation processes.
It is noteworthy that Coinbase, the largest cryptocurrency exchange in the United States, has terminated its backing for Bitcoin SV, a contentious altcoin.
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Bitcoin SV, founded by Craig Wright, who has controversially asserted to be the original Bitcoin creator, faces diminishing support from major players in the cryptocurrency market. Wright’s claim to be Satoshi Nakamoto has been met with skepticism, further compounded by recent legal outcomes.
Despite its status as a Bitcoin derivative, BSV continues to maintain a presence in the market, holding the 52nd position among cryptocurrencies globally with a market value of $1.4 billion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
