Coinbase Warn Users To Sell Off Bitcoin SV Before January 9
Coinbase asks users to sell off or move out their Bitcoin SV before Jan 9 due to Craig Wright's unproven claims and security uncertainty
Coinbase warns users to move Bitcoin SV (BSV) before Jan 9 or it will sell it for them. BSV's price fell after the announcement, with low trading activity and a $945 million market value.
Other exchanges dropped BSV after issues with Craig Wright's actions and security breaches known as 51% attacks in 2021, where attackers took control of the currency's operations.
In 2019,Binance removed BSV when its CEO CZ slammed Wright for claiming to be Bitcoin's creator without proof. Wright's claim lacks evidence as the real Satoshi would easily verify identity using a digital signature.
Craig Wright, a computer scientist who claims to be Satoshi Nakamoto, the mysterious inventor of Bitcoin, often causes controversy. Many in the crypto community doubt his claim because he hasn't provided conclusive proof. Despite this, he supports Bitcoin SV, which he says follows the original vision for Bitcoin. Meanwhile, Coinbase, a major crypto platform, focuses on customer trust and security. They're distancing themselves from Bitcoin SV partly because of the doubts surrounding Wright's claims and the coin's security issues.
BSV is down 1.05% as of writing this. Below is a chart showing Bitcoin SV’s Price movement in the past 7 days https://coinpaprika.com/coin/bsv-bitcoin-sv/
