OkCoin CEO Defends Position To Suspend BSV and BCH Trading

ByTroy Morris

Feb 25, 2021

Over the last few months, the entire crypto sector and most industries have had to deal with the menace of the self-acclaimed Bitcoin white paper developer, Craig White. In recent news that went around, Wright accused some parties of copyright infringement after they posted copies of the Bitcoin white paper which Satoshi Nakamoto allegedly compiled.

Even though there are no concrete proofs, Crush Wright is still claiming that he is the white paper creator, and firms need to get permission from him before posting a white paper. Following the move and uproar it caused, the CEO of OkCoin announced that they were planning to suspend trades of the two largest had for Bitcoin.

OkCoin CEO wants to protect Bitcoin

Giving the update on their verified handle on microbiology platform, Twitter, the CEO, said that the crypto market is currently fighting misinformation wars. They would suspend trades of Bitcoin Cash and Bitcoin SV by March 1. Even though Craig Wright has a little affiliation to Bitcoin Cash, he is the Bitcoin SV developer, hence converting both digital assets from the crypto exchange.

In another update, the CEO of OkCoin has taken to the media to justify why the exchange would no longer support both coins. The CEO of the exchange, Hong Fang, mentioned that even though no one is sure about the claims made by Craig Wright and other proponents of Bitcoin SV, they took this measure to mitigate future troubles.

In a rather subtle shade at Craig Wright and some other proponents of his coin, the CEO mentioned that they should not allow people to go about spreading unverified information while terming them as “bad guys.” Also, she mentioned that even though the measure was taken with Wright in mind, they were also using it to shield Bitcoin from several issues.

BSV and BCH community shows displeasure at OkCoin move

Fang mentioned that those that are in the Bitcoin SV space should stop with their plan of Bitcoin not being a good store of value. She mentioned that she would take Bitcoin over any form of investment owing to the constant cash printing that has been going on in the United States in the last few months.

Notably, the United States is still trying to push more money into the economy, which has been labeled as bad and would cause inflation. With this in effect, various entities we now using the digital asset as a hedge against inflation. Fang mentioned that the Bitcoin SV and Bitcoin Cash community have warm their way into the hearts of investors while telling them that Bitcoin is not a good store of value.

Tackling the move that OkCoin took in suspending the coins, the community members of BCH and BSV have shown their displeasure at Hong Fang’s remarks. Even though Bitcoin SV and Bitcoin Cash are not as big as Bitcoin, they are the biggest hard forks emerging from the Bitcoin blockchain.

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