The virtual currency exchange operated by the Japanese financial services giant SBI Holdings will delist Bitcoin Cash (BCH) in June 2019, according to an official statement released on April 16.
This news comes as somewhat of a surprise, seeing as BCH has been doing very well lately price-wise. In fact, it’s Bitcoin SV (BSV) that’s taking the crypto spotlight due to the silly lawsuit actions of its founder Craig Wright and the delisting of BSV from Binance, the world’s largest crypto exchange.
First BSV, Now BCH Delistings?
Bitcoin Cash (BCH) was created in August 2017 from Bitcoin (BTC)’s first ever hard fork. This initial hard fork was very controversial and caused a divide in the Bitcoin community, though the majority of users stayed on Bitcoin’s side.
Over 1 year later, in November 2018, Bitcoin Cash its own contentious hard fork which resulted in the creation of Bitcoin SV (BSV). The hard fork was initially very detrimental to Bitcoin Cash, as its price along with the rest of the crypto market plummeted to new lows shortly after.
With the recent advent of BSV delistings, it appears that SBI Holdings thought it was a good time to delist Bitcoin Cash. The CEO and representative director of SBI Holdings, Yoshitaka Kita, has previously criticized Bitcoin Cash’s hard fork and was never a fan of the project.
As for Kita’s take on Bitcoin SV, it appears he is fond of the project, since he purportedly has a connection with the BSV founder, Mr. Wright.
According to a report by Cointelegraph, Wright revealed that he and Kita have a close relationship, where the two spend a lot of time together and have mutual respect for each other.
Therefore, SBI Holding’s delisting of Bitcoin Cash may very well just be a move to make Kita’s close friend Mr. Wright feel a little better about the delistings of his coin, Bitcoin SV. Could there be an all out crypto feud in the making?
Do you think more crypto exchanges will delist Bitcoin Cash and Bitcoin SV all together? Do you think the delisting of these coins is fair even if they are viewed by many as harmful to the crypto ecosystem? Let us know what you think in the comment section below.
