Investors backing Bitcoin Satoshi’s Vision (BSV) are making a concerted effort to reinstate a lawsuit initially filed in 2019 against cryptocurrency exchange Binance. The plaintiffs contend that Binance’s delisting of BSV has had a detrimental effect on the token’s long-term value.
Currently, BSV is trading around $42 and it represents a hard fork of Bitcoin Cash (BCH), which itself was derived from the original Bitcoin (BTC) blockchain.
According to reports from Law360, the investors are urging the UK Competition Appeal Tribunal to reconsider a ruling made in July 2024 that dismissed their claim regarding “loss of chance.”
BSV Supporters Attribute Market Decline to Binance’s Actions
The plaintiffs argue that Binance’s choice to delist BSV, alongside similar measures taken by other prominent exchanges, has significantly hampered the altcoin’s market capabilities.
Originally, the investors sought $9 billion in damages, but they are now indicating that they may pursue damages amounting to £10 billion (approximately $13 billion) if the case proceeds.
The legal representatives assert that BSV has not recovered from its delistings, continuing to underperform due to limited visibility and restricted trading avenues.
Despite a 15% price rally following the announcement of renewed legal efforts, BSV remains stuck in a downward trend and has struggled to gain substantial market share or network strength compared to Bitcoin.
Today we are at the Royal Court of Justice in London
The case is “BSV Holdings Limited” vs crypto exchanges such as @krakenfx and @binance. It is over the delisting of the BSV coin in 2019 and BSV holders are asking for £9 billion. The exchanges tried to stop the case going to… pic.twitter.com/0tITwdvrCz
— BitMEX Research (@BitMEXResearch) May 8, 2025
Binance delisted BSV in April 2019, citing issues related to its listing standards.
This decision followed ongoing claims made by BSV’s creator, Craig Wright, who has persistently alleged—without verifiable evidence—that he is Satoshi Nakamoto, the enigmatic founder of Bitcoin.
Former Binance CEO Changpeng Zhao had previously cautioned that Wright’s controversial actions could lead to delisting.
Since the delisting, BSV has also been subjected to numerous 51% attacks, further eroding confidence in the security and stability of its blockchain.
These challenges have intensified doubts regarding the project’s sustainability, even as its supporters continue their legal campaign.
CZ Confirms Pardon Request After Initial Denial
In a separate development, CZ, the former CEO of Binance, has recently confirmed submitting a formal request for a presidential pardon, following an initial denial of such reports.
During a recent appearance on the Farokh Radio podcast aired on May 6, Zhao disclosed that his legal team has filed the application amid rampant media speculation.
“I got lawyers applying,” Zhao stated in the interview, elaborating that he came to the decision to proceed after media outlets like Bloomberg and The Wall Street Journal reported on his potential pursuit of a pardon from former U.S. President Donald Trump.
“If they’re writing this article, I may as well just officially apply,” Zhao remarked.
Last November, Zhao pleaded guilty to transgressions related to the Bank Secrecy Act as part of a settlement with U.S. authorities.
This settlement resulted in a hefty fine of $4.3 billion for Binance, with Zhao personally responsible for $50 million. He was sentenced to four months in prison and barred from holding any management positions at Binance as a stipulation of the agreement.
Following these events, Zhao has shifted his focus to international advisory roles, providing insights and recommendations on crypto regulation and blockchain integration to governments in countries such as Pakistan and Kyrgyzstan.
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