Coinbase announced in a statement that it will cease its support for the altcoin imitating Bitcoin.
In an official statement, cryptocurrency exchange Coinbase declared the cessation of its support for the Bitcoin SV (BSV) altcoin on its platform. Previously, the exchange had communicated its intention to discontinue support for this particular altcoin and urged users to exchange all their BSV assets for alternative cryptocurrencies.
In its recent official statement, Coinbase announced the liquidation of users’ BSV assets, converting them into alternative digital assets on the platform and transferring them to respective accounts. The exchange also noted the imposition of transaction fees for these liquidation processes.
Moreover, the largest cryptocurrency exchange in the USA has terminated its support for BSV, a highly contentious altcoin. BSV, founded by Craig Wright, who controversially asserted himself as the originator of BTC and the genuine Bitcoin, has seen its support from Coinbase withdrawn.
The recent court outcomes have diminished Craig Wright’s assertion of being Satoshi Nakamoto, a claim not recognized by the current cryptocurrency market.
Despite being considered a Bitcoin imitation, BSV continues to hold its position in the market as the 52nd largest cryptocurrency globally, with a market capitalization of $1.4 billion.
*This statement does not constitute investment advice.
