BitForex Endures Community Pressure, Keeps Bitcoin SV Listed

Craig Wright Exchange

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Sead Fadilpašić

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Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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June 26, 2023

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Cryptocurrency exchange BitForex, which is ranked 5th by trading volume, has deleted its poll regarding the future of Bitcoin SV and decided instead to keep the coin listed and tradeable.

This was confirmed via an announcement today, in which the company’s Founder and CEO Garrett Jin said a lot of “careful consideration” was made, before the final decision.

The exchange is responsible for more than 11% of the Bitcoin SV trading volume in the past 24 hours (USD 122 million in total.)

Prior to the announcement, the exchange set up a poll on Twitter, asking its community about delisting BSV. The poll has since been deleted, but last time we checked, 50% was in favor of delisting, 38% was against, with the remaining 12% not really caring.

According to the announcement, the company decided to ignore the polls because they have, allegedly, been tampered with.

“Unfortunately, we’ve noticed extensive malicious behavior that is affecting the accuracy and fairness of the poll,” the announcement reads, without specifying.

The announcement also said that the company decided not to take the poll into consideration because of a “vocal minority” was too noisy for the company to really hear what the community wants.

The announcement concluded that “we feel it would be an injustice to the existing active BSV traders on the BitForex platform if we were to delist the token.”

“BitForex will remain a platform upon which BSV is open for trade. We will continue to monitor the situation, and continue to focus our energies on finding measures that ensure traders on our platform, whatever their stance may be, are protected and free to trade as they please.”

However, the CEO admitted that Craig Wright, the main backer of BSV, “has undoubtedly cast a shadow on the cryptocurrency industry as a whole, harming the perception of this space in the eyes of not just the community, but the financial world at large.”

The community’s reaction to the decision has been split. While some applauded the move, calling it a “sensible professional decision” and not a “knee jerk reaction to Twitter trolls”, others weren’t as pleased, saying they will be closing their accounts.

Meanwhile, as reported, the majority of the crypto-verse celebrate recent delistings of BSV, while others argue that it might set a bad precedent.

At pixel time, Bitcoin SV is up by 0.43% in the past hour and up by 1.69% in the past 24 hours. However, it’s down by more than 28% in the past week.