The leading American cryptocurrency exchange, Coinbase, has issued a stern warning to its Bitcoin SV (BSV) holders. The exchange has announced its plans to completely terminate support for this digital asset.
Coinbase sent out a notice to its users holding BSV, notifying them of the impending liquidation of their assets if not withdrawn by January 9.
Previously in 2021, Coinbase had delisted BSV, also known as Satoshi’s Vision, following a “51% attack” on its blockchain, causing network instability. Since then, the exchange’s clients have been unable to trade the coin, although it could be stored in their wallets on the platform.
“If you fail to withdraw your BSV funds, Coinbase will liquidate any remaining BSV remaining in your Coinbase account,” the notice read. The exchange also confirmed that the liquidated BSV would be converted into another asset.
Bitcoin SV, a spin-off of Bitcoin Cash, was birthed in November 2018 after a hard fork and is currently the 53rd largest digital asset, boasting a market cap of $967 million, as per CoinGecko data.
BSV has been controversial due to its main supporter, Craig Wright, an Australian computer scientist who controversially claims to be the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As a result, BSV has been delisted from many major exchanges.
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