The Binance cryptocurrency exchange decided in April of last year to delist Bitcoin SV (BSV). More specifically, the exchange’s CEO, Changpeng Zhao (CZ to those familiar with him), made the decision over a personal grievance he has with Dr. Craig Wright. The move was viewed as simple childishness and possibly a violation of regulations since Binance had no viable explanation for the delisting. As much as Zhao seems to dislike Wright and doesn’t want to have anything to do with BSV, he apparently doesn’t mind making money off of its success. BSV is listed as a trading pair on an exchange Binance acquired last September.
Twitter user “purplehexed” pointed out the presence of BSV associated with Binance after he found it on the Binance JEX exchange. JEX is a platform that offers crypto futures and options trading, and its own JEX digital token.
Binance virtue signaled about delisting $BSV, but they still have it listed on the exchange they acquired, JEX. https://t.co/FKiZFxzaLP
It's the #1 coin by volume. pic.twitter.com/kmzpdnnezA
— X サトシ ✪ twetch.2328 (@illumimen) January 24, 2020
According to CoinMarketCap, JEX is listed as number 42 in the top 100 exchanges by volume. Reviewing its trading pairs shows BSV traded against USDT, Tether’s stablecoin, on the list. Not only is it present, but it is also number one in terms of volume of the 25 included. It reportedly accounts for 34.9% of the volume with a total of $123,469,611 traded in the past 24 hours. That’s $18 million higher than the second-place pair, BCH/USDT, which as 29.7% of the volume at $105.07 million.
Binance has been called out on more than one occasion for shady practices, and there have even been concerns that the company was built using fake volumes. That wouldn’t be surprising, given its readiness to drop BSV while leaving highly questionable coins to be traded on its platform. The public outrage against BSV demonstrated by Changpeng doesn’t hold up to scrutiny when it’s easily discovered that he isn’t opposed to making money off trading fees by keeping the digital currency listed on a secondary exchange.
One Twitter user said it best in reply to purplehexed. Paulee_paul chimed in on the conversation, tweeting, “That’s not good. [Nonsense (translated from Chinese)]!!! I don’t want [CZ] getting trading fees from the real BitCoin [sic].” Another, Tacomacryptopia, added, “CZ your dirty dogg [sic]!”
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