New Development in Altcoin Case That Binance Delinquent Years Ago: Court Found Binance Right, Dismissed $13 Billion Case!

Another lawsuit filed against Binance has come to an end. Accordingly, the UK court has dismissed the BSV lawsuit filed against Binance.

Accordingly, the UK Court of Appeal dismissed the $13.3 billion class action lawsuit filed by BSV investors against Binance.

According to Decrypt, a UK court has rejected BSV investors’ $11.9 billion claim, saying that investors can mitigate their losses after Binance and other companies delisted the BSV token.

In the class action lawsuit, the plaintiffs alleged that the removal of BSV by platforms like Binance in 2019 crashed the price of BSV, leaving it unable to reach a price level close to Bitcoin.

“By delisting BSV, platforms like Binance have destroyed the potential for BSV to become a world-class cryptocurrency like Bitcoin and the chance to profit from BSV. We are therefore seeking damages of £8.9 billion ($11.9 billion),” the plaintiffs said.

However, the court ruled that the plaintiffs’ BSV claims were speculative, that investors could have mitigated their losses through the open market, and that the responsibility for mitigating losses was theirs.

The court also added that BSV was not an irreplaceable asset and that the amount of damages sought was excessive and unsupported.

With the general rise in the market, BSV price has also increased by 9% in the last 24 hours.

*Not investment advice

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