Bitcoin SV Update: Investors Advocate for the Reinstatement of ‘Loss of Chance’ Lawsuit Aimed at Binance.

Investors in Bitcoin SV (BSV) have urged the UK Court of Appeal to reinstate a lawsuit asserting that Binance’s decision to delist BSV in 2019 resulted in substantial long-term financial losses. If the courts determine that BSV missed an opportunity for growth akin to Bitcoin, the case could result in more than $13 billion in damages. The BSV investors are reasserting their claims in the appeal, contending that the delisting significantly hindered their investment’s value. The lawsuit, potentially worth more than £10 billion ($13 billion), centers on a “loss of chance” argument that was previously rejected by the Competition Appeal Tribunal in July 2024. The group contends that the removal of BSV from listings obstructed its path to becoming a leading cryptocurrency. Legal representatives assert that Binance’s choice resulted in a lasting decrease in the value of the coin, hindering its potential to increase in value alongside rivals such as Bitcoin. John Wardell KC, who represents the plaintiffs, informed the court that the “harm persists to this day” and argued that, had the coin not been delisted, BSV would have reached a value comparable to Bitcoin by 2022. This belief forms the basis of the request for billions in damages and seeks to incorporate the “forgone growth effect” into the trial that is approaching. The UK’s first crypto competition case intensifies. The Competition Appeal Tribunal previously dismissed the addition of this particular growth-oriented assertion, referring to the “market mitigation rule.” The Tribunal’s decision in July indicated that the majority of BSV holders probably knew about the delisting and had the chance to exchange their tokens for other options. The judges noted that the evidence indicating investors were uninformed was “minimal and general.” Nevertheless, the Tribunal did not dismiss the whole lawsuit.