BSV Investors Revive 2019 Lawsuit Against Binance, Seeking $13B in Damages

Investors in Bitcoin Satoshi’s Vision (BSV) are making a renewed push to revive a 2019 lawsuit against crypto exchange Binance

Investors in Bitcoin Satoshi’s Vision (BSV) are making a final push to revive a 2019 lawsuit against crypto exchange Binance, pivoting their claim to highlight the severe impact of the platform’s decision to delist the token, according to a Thursday report by Bloomberg.

The plaintiffs, who originally sought $9 billion in damages, are asking for the UK Competition Appeal Tribunal to reconsider a July ruling that dismissed their “loss of chance” claim, the report adds.

Their case centers around Binance’s decision to delist BSV, an offshoot of Bitcoin Cash (BCH), which itself forked from the original Bitcoin (BTC) network.

Following the move by Binance and other exchanges to drop the coin, BSV never recovered and continues to underperform due to lack of visibility and trading access, the legal team maintains.

At the time of writing, BSV is trading at around $42, remaining in a persistent downtrend despite a 15% price bump after news of the renewed legal effort.

The price action also showcases the altcoin’s failure to gain meaningful market share or network power relative to Bitcoin, which is currently changing hands at $51,100.

The case, "BSV Holdings Limited" vs crypto exchanges such as Binance and Huobi, is over the delisting of the BSV coin in 2019 and BSV holders are asking for £9 billion

Today we are at the Royal Court of Justice in London

The exchanges tried to stop the case going to the Tribunal but failed

— BitMEX Research (@BitMEXResearch)

Binance removed BSV in April 2019, citing concerns over its listing standards. The move followed repeated claims by BSV’s creator, Craig Wright, who has long asserted—without proof—that he is Satoshi Nakamoto, Bitcoin’s pseudonymous founder.

Former Binance CEO Changpeng Zhao had publicly warned that Wright’s behavior could result in delisting.

Since then, BSV has also been the target of several 51% attacks, further undermining trust in its blockchain’s security and stability as it continues to lag behind Bitcoin in terms of hash rate and network activity.

These setbacks have only deepened skepticism about the project’s viability, even as its backers press ahead with legal action.

Last week, CZ confirmed that he has applied for a presidential pardon, weeks after initially denying reports of such a move.

Speaking on the May 6 episode of the Deep Web Tech podcast, Zhao said his legal team filed the request following widespread media speculation.

“I got lawyers applying for it,” Zhao said during the interview, saying that he ultimately decided to move forward after stories from Bloomberg and The Wall Street Journal suggested he was pursuing a pardon from former U.S. President Donald Trump.

“If they’re writing this article, I may as well just officially apply for it,” Zhao added.

The former crypto mogul pleaded guilty to violating the Bank Secrecy Act in November as part of a settlement with U.S. authorities.

The agreement led to Binance paying $4.3 billion in fines, with Zhao personally contributing $50 million. He was sentenced to four months in prison and barred from holding any management position at Binance as a condition of the deal.

Since then, Zhao has shifted focus to international advisory work, offering guidance to Pakistan and Kyrgyzstan on crypto regulation and blockchain integration.