365Crypto
The UK Court of Appeal ruled against Bitcoin SV investors in their lawsuit targeting Binance and other crypto exchanges. Investors had claimed $11.9 billion in losses, blaming Binance for delisting BSV in 2019.
The court said investors could have limited their losses by selling or switching to other cryptocurrencies. It rejected the idea that investors lost out on big future gains because BSV isn’t unique and had alternatives like Bitcoin and Bitcoin Cash.
Judge Sir Geoffrey Vos explained investors had a duty to reduce their losses. They can’t claim damages they might have avoided. The court also dismissed the argument about losing a chance to profit from BSV’s price rise, calling it flawed because crypto prices are volatile by nature.
Even if some investors didn’t know about the delisting, they couldn’t claim more than the value of their holdings before it happened plus clear losses.
Meanwhile, Binance is also fighting a separate $1.76 billion lawsuit from FTX’s estate. Binance says FTX’s collapse was due to fraud inside FTX, not market manipulation.
