While Bitcoin rose past a market cap of $ 1 trillion, its two forks, BSV and BCH, were removed by cryptocurrency exchange OKCoin.
In a blog post today, OKCoin CEO Hong Fang explained the decision to delist was because he wanted to focus on protecting investors from the war of malicious misinformation.
Fang notes that the exchange regularly reviews the assets listed on multiple indices, “including ecosystem characteristics and development” as well as “red signs of morality or reputation” and two forks. This has been deleted after the most recent review. However, given the “unique history and background”, Fang said that the company felt compelled to explain their decision.
“When it was reported that Craig Wright – who claimed to be Satoshi Nakamoto and a BSV supporter – was taking actions to enforce the copyright claims on the Bitcoin whitepaper, we found ourselves facing a situation. very annoying dilemma, ”wrote the OKCoin post.
Although Fang pointed out that the company believes “Bitcoin is an open software” and both disagreements between individuals and hard forks are allowed in the open software landscape, in the end “we ran into difficulty. ignoring the war of malicious misinformation waged by Craig Wright and other senior members of the BCH and BSV communities. “
“We see both of these as devastating for Bitcoin – the cornerstone of our industry. Before we had a better way to separate both BSVs from Wright’s attack on the open source community, and to differentiate these two derivative protocols from the native Bitcoin on the platform, we felt more comfortable removing them. “, Fang concluded.
OKCoin, an OKEx sister exchange established in the US has a daily trading volume of $ 50 million, with BTC accounting for 70% of that volume. Prior to the announcement, BSV only accounted for $ 30,000 and BCH was $ 150,000 in daily trading volume, both of which are in lower ranges among the 32 assets OKCoin offers, according to Coingecko.
BCH had a year of ups and downs leading to delisting. Earlier this month, Dogecoin’s strong price surge pushed BCH out of the list of top 10 assets by market capitalization, although in December of last year businessman Kim Dotcom called for a $ 3,000 price target for per coin. BCH has risen 70% for the year to $ 724 at press time.
BSV had a tougher year when the price dropped 20% to 250 USD. However, the coin has had some positive press lately following Jimmy Nguyen’s appearance on Fox Business, and the project also enjoys strong support from Chinese users.