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New Bitcoin SV [BSV] trading pairs with BTC, USDC, and USDT go live on Float SV

Namrata Shukla



New Bitcoin SV [BSV] trading pairs with BTC, USDC, and USDT go live on Float SV
Source: Pixabay

While being delisted from various exchanges, Bitcoin SV [BSV] secured a place on Float SV exchange as they announced multiple new trading pairs. The exchange paired BSV with Tether [USDT], USD Coin [USDC], Bitcoin [BTC] and Bitcoin Cash [BCH].

Float SV is an OKEx partnered “Bitcoin SV based exchange”, formed as a result of exchanges delisting BSV. In fact, the exchange was launched on April 12, a day after Binance’s CEO Changpeng Zhao threatened to delist the coin following Craig Wright’s claims of being Satoshi and suing people on account of defamation.

The founder of RelayX and advisor to the OK group, Jack C Liu, founded Float SV and is the CEO of the exchange. Float SV first made their presence felt on Twitter when Wright and his buddy Calvin Ayre were suing people on the internet. According to a Medium post published on April 12, the reason for the formation of this “BSV based exchange” was:

“Float SV will launch in April, although the exact timing will be adjusted forward if any major exchange delists Bitcoin (SV).”

As of April 20, Binance, Kraken, and ShapeShift are among the major exchanges which delisted Bitcoin SV due to the “toxic” ecosystem. With major exchanges delisting BSV, the price of the coin has fallen drastically, and the support from its native exchange does not seem to have helped the coin as it fell by over 16% over the past seven days.

At press time, Bitcoin SV [BSV] was valued at $59 with a market cap of $1.05 billion. The 24-hour trading volume of the coin was noted to be $101.52 million.

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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.


SEC delays VanEck Bitcoin ETF decision days after delaying Bitwise proposed rule change





SEC delays VanEck Bitcoin ETF decision days after delaying the Bitwise proposed rule change
Source: Unsplash

The Securities and Commission Exchange [SEC] has yet again delayed another Bitcoin ETF. This time around, the commission has decided to delay the VanEck Soldix Bitcoin ETF, one of the most awaited exchange-traded funds in the cryptocurrency community.

In the document released today, the exchange has asked for more comments on the proposed rule change and has also asked for further information on queries related to the exchange-traded fund. The commission stated that it has received 25 comments on the proposed rule change so far.  It stated,

“On January 30, 2019, Cboe BZX Exchange, Inc. […] filed with the Securities and Exchange Commission, […] a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust […] The proposed rule change was published for comment in the Federal Register on February 20, 2019.”

It further stated

“On March 29, 2019, pursuant to Section 19(b)(2) of the Act, the commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”

Notably, the main concerns of the commission continue to be market manipulation and the measure taken by the platform to protect its investors. The commission is currently seeking comments on 14 queries pertaining to the VanEck Bitcoin ETF.

This includes the views of the ‘commenters’ on whether the exchange has entered “into a surveillance-sharing agreement with a regulated market of significant size related to bitcoin?”, the relationship between the Bitcoin futures markets and the Bitcoin spot market, with the focus being price formation, the relationship between the Bitcoin futures market and the proposed Bitcoin ETF, and the commenters’ views “of the Exchange’s assertions that bitcoin is arguably less susceptible to manipulation than other commodities that underlie ETPs”.

Gabor Gurbacs, Director of Digital Assets Strategy with VanEck said on Twitter,

“The VanEck SolidX #Bitcoin #ETF decision has been postponed by the SEC. We continue the hard work towards better-regulated, safer and more liquid digital assets markets. Bitcoin is too big to ignore. Vires in numeris!”

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