OKEx Refuses To Delist Bitcoin SV — But Is The Exchange Really Impartial?

The Malta-based trading platform will not support the coordinated move against Bitcoin SV as the coin does not breach the listing rules and requirements imposed by the company. The company clarified its stance on the issue in the recent blog post. Following a comprehensive review of BSV’s technological development, liquidity, and compliance, OKEx came to the conclusion that Bitcoin SV does not meet OKEx delisting criteria.

Considering that Bitcoin SV (BSV) has been delisted from several exchanges recently, OKEx has conducted a rigorous review on BSV in terms of technology development, liquidity, and compliance.https://t.co/X0Gzs18Ir0

— OKEx (@OKEx) April 16, 2019

Meanwhile, Bitcoin SV has lost over 22 percent of its value in 24 hours. While OKEx is a leading cryptocurrency exchange for Bitcoin SV against Tether (USDT), it lags behind Binance by aggregate value. Unsurprisingly, traders are in a hurry to get rid of the coin after the delisting announcement.

Is OKEx Really Unbiased?

OKEx says that it is a neutral and unbiased platform that treats all projects equally and respects the efforts of the dedicated teams. However, it is worth noting that OKEx is a partner to FloatSV — a recently-founded BSV-based cryptocurrency exchange that is going to be launched on April 19. Prospective users of the new trading platform can get pre-registered if they have an open account with OKEx.

It's time. Launch of https://t.co/tLf3MVoGZ6 will be before Friday, April 19th. #floatsv #bsv pic.twitter.com/H3lcD9lcB9

— FloatSV (@FloatSVcom) April 15, 2019

Obviously, this partnership casts serious doubts on OKEx’s impartiality when it comes to Bitcoin SV issues. Some cryptocurrency community members have already expressed their critical views towards the upcoming FloatSV launch.

OKEx and Wash Trading Issues

OKEx has recently been implicated in a fake-trading-volume scandal. The representatives of the exchange had to admit to the wash trading that lead to artificially high trading volumes. So, while the exchange chose to take sides with the Bitcoin SV team in the recent debacle, its support may not be enough to save the project. What do you think of OKEx’s contrarian move, considering that the majority of the cryptocurrency community is now against Bitcoin SV? Let us know in the comments below!