• Robinhood has announced it will no longer accept Bitcoin SV deposits and delist the cryptocurrency starting January 25th.
• Customers will not be able to trade, purchase, or transfer Bitcoin SV after the deadline.
• The move is part of a regular review of the cryptocurrencies offered by Robinhood.
Robinhood, the popular online trading app, has announced that it will no longer be accepting Bitcoin SV (BSV) deposits and will be delisting the cryptocurrency from its platform starting January 25th. This means that customers will no longer be able to trade, purchase, or transfer Bitcoin SV after the deadline.
The news came in the form of a statement on the company’s website. In it, Robinhood reaffirmed that it has a rigorous framework in place for regularly reviewing the cryptocurrencies it offers and that it is selective about the assets it offers in order to make its crypto offering the most trusted and lowest-cost option.
This move to delist Bitcoin SV follows similar decisions by other big cryptocurrency exchanges. In April 2019, Binance delisted Bitcoin SV after Craig Wright, one of the developers of the cryptocurrency, made inflammatory comments directed at the cryptocurrency community. Similarly, in October 2020, Kraken also delisted Bitcoin SV after it accused Craig Wright of making false claims about being Satoshi Nakamoto, the mysterious creator of Bitcoin.
For customers who still hold Bitcoin SV after the January 25th deadline, Robinhood will automatically sell the cryptocurrency at market value and give the proceeds to the respective customers.
It is unclear why Robinhood has chosen to delist Bitcoin SV, but it has been speculated that the decision was based on the ongoing drama and controversy surrounding the cryptocurrency.
In any case, Robinhood’s decision to delist Bitcoin SV will have an impact on the cryptocurrency’s value and liquidity. It remains to be seen how the market will react to the news, but it is certain that this move will have a significant effect on Bitcoin SV and the cryptocurrency community as a whole.