$12B BSV delisting claim against Binance, Kraken hits UK Supreme Court

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—by Protos Staff

A £9 billion ($12 billion) legal claim against Binance, Kraken, and a number of other major crypto exchanges has reached the UK Supreme Court in the form of a request for permission to appeal.

The appeal has been filed by BSV Claims Limited on behalf of Bitcoin Satoshi Vision (BSV) holders who allege that exchanges, including Binance, Kraken, Bittylicious, and ShapeShift colluded to delist the token in 2019.

The claimants previously took their case to the Competition Appeal Tribunal in 2024, where they argued that, not only were they owed for BSV’s deprecating price, but that they also suffered a “forgone growth effect,” meaning BSV was robbed of a chance to appreciate in price similar to bitcoin (BTC). 

Read more: Craig Wright firms struck from Seychelles company register

When this “loss of chance” claim was struck down by the tribunal, they appealed to the UK’s Court of Appeals, arguing against the Tribunal’s decision.

This was also unsuccessful, with the judges stating that a subset of BSV holders, who held during the delisting period, weren’t owed billions in damages. These judges also struck down the loss of chance claim and reinforced that the “market mitigation rule” applied.

They also said that holders should’ve mitigated their losses once they discovered the delisting events.  

“Even if BSV holders reasonably remained unaware of the delisting events for much longer periods,” the Master of the Rolls said, “I cannot see how they could ever claim more than the total value of their holding before the delisting events plus any quantifiable consequential losses such as trading fees.”

Self-proclaimed Bitcoin creator Craig Wright helped found BSV. He’s also engaged in the UK courts’ appeals process but has failed at almost every turn in his efforts to overturn a prior ruling that he’s not Satoshi. 

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