Bitcoin SV Investors Revive Lawsuit Against Binance Over 2019 Delisting

Investors in Bitcoin Satoshi’s Vision (BSV) are making a renewed push to resurrect a 2019 lawsuit against leading crypto exchange Binance, alleging that the platform’s decision to delist the altcoin led to substantial financial damages and hindered the project's long-term viability.

BSV, which is currently trading at approximately $42.49, is a hard fork of Bitcoin Cash (BCH)—itself a fork of Bitcoin (BTC). The cryptocurrency has struggled to gain mainstream traction since its launch and has faced a series of challenges including multiple delistings, security breaches, and price stagnation.

BSV has been in a long-term price decline and has failed to capture investor attention. Source: TradingView

The original lawsuit, filed in 2019, sought $9 billion in damages and claimed that Binance’s delisting of BSV significantly damaged investor confidence, suppressed market liquidity, and stunted the altcoin’s growth. Although the UK Competition Appeal Tribunal dismissed the “loss of chance” claim in July 2024, plaintiffs now argue that the ruling should be reconsidered in light of new legal interpretations and ongoing market consequences.

If successful, the revived case could increase the claim to as much as £10 billion (approximately $13 billion USD) in damages, with the plaintiffs alleging that Binance’s actions effectively blacklisted BSV from broader market participation.

In response to the news, BSV saw a 15% price spike, though analysts caution that this may be temporary, as the altcoin remains entrenched in a long-term downward trend. The network has also suffered several 51% attacks, undermining its credibility as a secure and decentralized blockchain.

These attacks — in which malicious actors control a majority of the network’s hash power to manipulate transactions — have raised serious questions about the network’s resilience and long-term viability.

Despite its ambitions to remain true to the original vision of Bitcoin’s anonymous creator Satoshi Nakamoto, BSV has failed to capture significant adoption or hash power from the larger Bitcoin ecosystem. The lawsuit against Binance now represents a key legal battleground, as investors seek accountability for what they claim were exclusionary and damaging actions by one of the world’s largest crypto exchanges.