UK Court Rejects $13.3B Bitcoin SV Claim Against Binance Over Delisting Damages

Highlights:

• Bitcoin SV lawsuit narrowed as UK court dismisses speculative damage claims.
• Investors expected to mitigate losses by selling after delisting.
• Foregone growth theory and loss of chance arguments were rejected by the court.

A key legal issue related to the 2019 delisting of Bitcoin SV took an important turn. The major part of a $13.3 billion lawsuit filed by investors has been dismissed by the UK Court of Appeal. It was claimed in the suit that Binance and others conspired to hold back the growth of Bitcoin SV.

Bitcoin SV Claims Ltd filed the case, claiming to represent more than 240,000 investors. The investors believe major exchanges, including Binance and Kraken, acted unfairly by delisting Bitcoin SV. They claimed that Bitcoin SV might have risen to the same value as Bitcoin if it had remained listed.

Court Rejects Speculative Damage Theory

The court stated that the proposed damages were just speculation. Investors in “sub-class B” argued for massive payouts, depending on how much Bitcoin SV would appreciate. They claimed they missed out on the potential to earn money as they might have with Bitcoin or Bitcoin Cash. Still, the court found that the claim of “foregone growth” was not significant.

🇬🇧 BREAKING: UK court dismisses $11.9B lawsuit against @binance over #Bitcoin SV (BSV) delisting. pic.twitter.com/y776EgB6DD

— Roundtable Network (@RTB_io) May 22, 2025

It stated that Bitcoin SV was similar to other available alternatives. Investors relying on Bitcoin and Bitcoin Cash weakened their own stance. Since the market provided similar products, they could invest somewhere else. According to the court, losses must be based on reality, not on possible outcomes.

Furthermore, it pointed out that investors were free to participate in an open market. After losing the listing, they could have sold their Bitcoin SV assets. Because of that, they had a legal duty to reduce their losses. The court confirmed that recoveries from the delisting should not be greater than what the assets were worth before the delisting.

Loss of Chance Argument Dismissed

The “loss of chance” theory was the subject of another legal argument. In their opinion, being delisted meant they lost the possibility of making future profits. Still, the court decided that this argument didn’t fit the facts of the case. The case was not based on other decisions but on Bitcoin SV’s potential to rise in value.

These occurrences ought to be judged by possibilities, not by speculation. The court reiterated that cryptocurrencies are subject to big fluctuations. Moreover, it noted the law does not allow for hypothetical cost increases that are not tied to a real factor. For this reason, the court backed its previous judgments to throw out the damage claims.

The appeal also sought to overturn the “market mitigation rule.” With this principle, a claimant is responsible for reducing their losses when there’s a chance to do so in the market. The court noted that the application was straightforward in the case. Being a freely tradable asset, Bitcoin SV’s risk was to be addressed with mitigation measures.

Remaining Claims May Proceed

While most claims did not proceed, some of the smaller ones might keep going. Investors who sold at a loss their Bitcoin SV holdings as a result of delistings have options for redress. Furthermore, sellers who suffered losses soon after the product was removed may have access to compensation.

Even though the court noted these additional concerns, it pointed out that they are not enough reason for the original billions requested. The judges remarked that there was no formal tribunal order. Because of that absence, the process became less clear and it was harder to understand the limits of the claims.

However, the court made clear that further damage claims in the crypto world should be based on real facts. It established that delisting assets doesn’t guarantee a legal liability. The court’s decision narrowed one of the biggest lawsuits involving the crypto industry.