In an attempt to protect the Bitcoin ecosystem, OKCoin will remove two BTC hard forks – Bitcoin Cash and Bitcoin SV – and blamed Craig Wright’s recent lawsuit.
The popular crypto exchange OKCoin has made a somewhat controversial decision to delist two Bitcoin forks – Bitcoin Cash (BCH) and Bitcoin SV (BSV). According to the platform’s CEO, the company is doing what’s in the best interest of Bitcoin’s ecosystem while trying to act against Craig Wright’s recent lawsuit urging various websites to remove the BTC whitepaper.
OKCoin Delists BSV and BTC
The exchange announced earlier today that it will suspend trading and altogether remove the two Bitcoin hard forks as of March 1st, 2021. Later on, Hong Fang, the CEO of OKCoin, published a detailed post to shed some light on the decision.
She reasoned that the exchange is frequently exploring which coins it should keep and which it should remove as part of its developing system. However, the BCH and BSV removals come with more “unique history and context.”
The post reads that BTC, as the first-ever cryptocurrency, gave birth to the entire industry. While hard forks are a relatively common occurrence within the ecosystem, Bitcoin Cash and Bitcoin SV carry a special note.
Both emerged several years ago as their respective proponents preferred different scaling paths, and each claimed that they are the “true Bitcoin.” However, Fang believes that crypto investors and the market have made it clear on “what Bitcoin was built for” as BTC’s market cap has reached $1 trillion, while BCH and BSV are valued at 1.5% and 0.5% of the original version.
Read more: Crypto Potato