Bitcoin SV Investors' Effort to Seek Billions in Compensation From Major Crypto Exchanges Has Largely Fallen Flat

The case, targeting Binance and others over the 2019 delisting of BSV, was mostly dismissed in a May 21 ruling.

A bid by Bitcoin SV investors to win billions in an endeavor to had largely fallen flat in the UK Court of Appeal, according to a report by Law360 on Friday, May 21.

The case, which saw several major crypto exchanges being targeted, followed the 2019 delisting of BSV from platforms like Binance.

At the heart of the lawsuit was a demand for £8.9 billion ($11.9 billion) in damages from investors who claimed they lost out on potential profits when BSV was removed from several trading platforms. They argued that, if not delisted, BSV might have climbed to the level of top-tier cryptocurrencies like Bitcoin (BTC) or Bitcoin Cash (BCH).

However, the court rejected this idea, calling it purely speculative.

The judges ruled that BSV wasn’t a unique asset and had viable substitutes, rendering the usual claim for "full market value" irrelevant. They also found that investors had reasonable opportunities to limit any losses by reallocating their holdings at the time.

This case might have implications for the le applied to tradable assets, stating it applied to BSV and that any losses should be measured soon after the delisting occurred.

While some minor aspects of the case can continue, the court has shut down the bulk of the lawsuit, ruling that even uninformed holders wouldn't be entitled to more than their token value at the time plus provable losses.