Coinbase, a leading cryptocurrency exchange, has informed its users of its decision to discontinue all support for Bitcoin SV (BSV) as of January 9.
Coinbase Announces End of Support for Bitcoin SV (BSV)
This move comes after Coinbase delisted Bitcoin SV for the first time in 2021, indicating that the token has now been completely removed from its platform.
Coinbase issued a clear directive to its users, saying, “If you do not withdraw your BSV funds, Coinbase will liquidate the remaining BSV in your Coinbase account.”
Following this announcement, the Craig Wright coin, often hailed as the purest “Satoshi's Vision” version of Bitcoin (BTC), dropped 1.74% in value.
Bitcoin SV encountered a number of difficulties that led to its delisting by various exchanges.
Some of these decisions were influenced by concerns about Craig Wright's behavior, while others were driven by the multiple 51% attacks the BSV network has suffered in 2021.
A 51% attack occurs when malicious miners gain control of more than half of a blockchain's mining power.
This dominance allows them to manipulate the network by ignoring legitimate blocks in favor of their own extended chains.
In 2019, Binance CEO Changpeng Zhao took a similar stance and asked for BSV to be delisted from the exchange after labeling Craig Wright as a fraudster.
*This is not investment advice.
