Bitcoin SV (BSV) to Be Discontinued on Coinbase Platform
Coinbase is taking a significant step by completely discontinuing its support for Bitcoin SV (BSV).
The decision comes as Coinbase sent a notice to customers storing BSV on its platform, stating that customers must remove their coins by January 9, or Coinbase will liquidate the holdings. Coinbase initially delisted BSV, often referred to as Satoshi’s Vision, in 2021 due to a “51% attack” on the coin’s blockchain that led to network instability. While Coinbase users have been unable to trade BSV since the delisting, they could still store it in their Coinbase wallets. Those who fail to withdraw their BSV funds by the deadline will see their holdings converted into another asset as Coinbase formally discontinues support for BSV.
Bitcoin SV emerged in November 2018 following a hard fork of Bitcoin Cash, leading to its creation as a separate cryptocurrency. It has gained some recognition but also faced controversy, largely because the Australian computer scientist Craig Wright, who has claimed to be the mysterious creator of Bitcoin, Satoshi Nakamoto, although the crypto community widely disputes these claims. Despite its following, the crypto community has delisted BSV from multiple major exchanges, and it remains a contentious cryptocurrency.
Clever Robot News Desk 8th November 2023
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