UK Court Says “No Chance!” to BSV Lawsuit Against Binance – What a Twist!

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Well, folks, grab your popcorn! 🍿 A UK appellate judge just gave a big ol’ thumbs down to the BSV Claims Ltd in their epic showdown against Binance and Kraken. Talk about a plot twist! 🎭

In a courtroom drama that could rival any Hollywood blockbuster, the UK appeals court has tossed out most of a whopping $13.3 billion class action against Binance. Why, you ask? Because they decided that BSV could have been the next Bitcoin (BTC) if it hadn’t been kicked to the curb in 2019. Spoiler alert: the court thinks that’s a bit too “speculative.” 🤔

According to the wise judges, investors had a duty to sell their BSV in the open market. So, if you were sitting on your hands, that’s on you, buddy! 🙈 But don’t worry, smaller claims from users who lost access or sold at a loss might still get their day in court. It’s like a consolation prize in the game of crypto roulette! 🎰

The case was launched by BSV Claims Ltd, who are basically saying, “Hey, we want damages because our precious BSV got delisted from the big leagues!” But the court wasn’t having any of that “loss of chance” nonsense. They said, “You can’t just sit there and expect the value to magically rise!” 🪄

Holders Could Have Sold

According to the ruling, BSV holders who were in the know about the delistings (let’s call them “sub-class B” for fun) had the chance to sell and save their bacon. 🥓 The court pointed out that BSV was a tradeable asset, just like Bitcoin and Bitcoin Cash, which the claimants themselves mentioned. So, holding onto BSV after the delisting? That was a choice, not a tragedy! 🎭

The judge also threw shade on the “loss of chance” doctrine, saying it’s usually for when third-party decisions are involved. But in this case, it was all about direct causation: would BSV have skyrocketed in value if it hadn’t been delisted? The judge said that’s a question for the crystal ball, not the courtroom! 🔮

And just when you thought it couldn’t get any better, the judge criticized the lack of a formal order from the Competition Appeal Tribunal. Apparently, that would have cleared up the whole mess, especially with an appeal hanging in the air like a bad smell! 💨

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2025-05-22 18:16