Judges: $13.3B Claim From Bitcoin SV Investors

Judges Reject Bitcoin Investors' $13,3 Billion Claim Against Binance

22 May 2025 at 17: 10

Reading time: 2 minutes

The UK court has dismissed the majority of a $13,3 billion class action lawsuit against crypto exchange Binance, a major blow to investors in Bitcoin SV (BSV), who claimed that the token's delisting in 2019 harmed their growth prospects.

The court rejected investors’ argument that BSV could have potentially reached price levels similar to Bitcoin if it had not been delisted from prominent trading platforms. The ruling, delivered on Wednesday, said the damages were speculative and that investors had a duty to limit their losses by selling on an open market.

The claim was based on a claim seeking 352 times the original value of the BSV tokens from “sub-class B” investors, but the court ruled that this claim could not proceed. Sir Geoffrey Vos, the Master of the Rolls, commented: “I asked Mr John Wardell KC how the representative could argue that he was claiming hundreds of times more value than the assets the defendants had allegedly damaged. He was unable to provide an answer.”

Wardell, a seasoned lawyer, is representing BSV Claims Limited, the entity that brought the lawsuit on behalf of more than 240.000 investors in the UK. His team last week asked the court to review the dismissed claims, including a theory of “lost opportunity”.

The court found that the plaintiffs’ own expert relied on comparisons to Bitcoin and Bitcoin Cash in estimating damages, thereby undermining the proposition that BSV was a unique or irreplaceable asset. Furthermore, the “lost opportunity” claim was dismissed as legally inapplicable.

The judges stated that the damages sought did not relate to missed opportunities related to third-party decisions or realistic probabilities. Instead, the dispute revolved around whether BSV would develop into a leading cryptocurrency. The court indicated that this question could be resolved on the basis of probability and not by speculative or fallback theories.

Ultimately, the court upheld the Competition Appeal Tribunal’s decision of July 2024, which applied the principle of “market mitigation”. This legal principle requires claimants to take reasonable steps to reduce their losses in a functioning market.

Although the court dismissed the majority of the lawsuit against Binance, smaller claims can still move forward. These mainly concern investors who lost access to BSV after the token was delisted, or who sold it at a loss after the delisting.

“Life is like crypto: full of surprises and twists!”

At Block 9, we continue to closely monitor developments in the crypto space. The dynamics of law and crypto show that we are only at the beginning of an exciting journey. How will you and your investments deal with these uncertain times? Stay engaged and make your voice heard in this rapidly changing world!

Frequently Asked Questions

What is the impact of this verdict on the BSV community?
This ruling has significant implications, as the largest claims have been dismissed, but smaller claims could still lead to legal action, which could affect the dynamics within the BSV community.

Can investors still claim damages?
Yes, investors who have lost access to BSV or sold it at a loss can likely still cash in their claims.

What are the next steps for BSV Claims Limited?
BSV Claims Limited may seek to strengthen the smaller claims and may develop new strategies to reshape the litigation following this ruling.

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