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Binance under fire after being named the largest BSV miner

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on Jun 19, 2020
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  • Binance was recently criticized by the president of the Bitcoin Association — the group behind Bitcoin SV.
  • The criticism comes after the exchange emerged as BSV's leading miner, even after it delisted the coin.
  • According to Bitcoin Association's president, Binance is cherrypicking its relationship with the project.

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Earlier this week, the leading crypto exchange Binance, made headlines for being the largest miner of a cryptocurrency Bitcoin SV. Many have pointed out that the news was surprising, considering that the exchange previously delisted the coin in 2019.

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Binance is inconsistent with its stance towards BSV

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The coin was removed after Binance CEO, Changpeng Zhao, gave an ultimatum to Bitcoin SV’s Craig Wright. Wright threatened to sue anyone who claimed that he is not Satoshi Nakamoto, which caused a major conflict between him and the crypto community.

With Wright refusing to withdraw, Zhao decided that Bitcoin SV will no longer be listed on his exchange.

Now, Binance is under fire from Bitcoin Association’s president, Jimmy Nguyen, for being BSV’s leading miner even after it delisted the coin. Nguyen said that Binance’s behavior is a ‘little too ironic,’ and he accused the exchange of cherrypicking its relationship with the project.

When it delisted the token in April 2019, Binance justified the decision by saying that BSV doesn’t meet its standards. Nguyen considers this to be an excuse so that CZ would have his way, and claims that the coin does meet all the standards required to be listed on Binance.

Meanwhile, Binance continued to mine the coin and generate revenue off of it.

Binance called for the removal of Craig Wright from BSV

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Binance made other moves against Craig Wright, such as encouraging the Bitcoin SV community to remove Wright from the project’s ecosystem. It stated that Wright is ‘poisoning the community,’ and that anyone who supports the project from the tech perspective ‘should be attacking the fraudulent Craig Wright.’

The reports of Binance being the largest miner of BSV emerged only days ago. They referenced recent data that shows that Binance Pool — launched in late April — provided nearly 20% of BSV hash rate on a 7-day moving average.

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