UK court partially dismisses Bitcoin SV investor’s lawsuit against Binance
The UK Court of Appeal partially dismissed a lawsuit from Bitcoin SV investors against major crypto exchanges, including Binance, regarding the alleged conspiracy to delist BSV in 2019. The court ruled that investors classified as “sub-class B” were not entitled to speculative damages, rejecting claims for over 8.9 billion British pounds ($11.9 billion) based on hypothetical growth. The court stated that BSV was not unique and that investors had opportunities to mitigate losses by selling or reinvesting. The appeal's arguments about the “market mitigation rule” and “loss of a chance” were also dismissed, emphasizing that damages must be assessed shortly after delisting. Binance's motion to dismiss a separate $1.76 billion lawsuit from the FTX estate was filed, asserting that FTX's collapse resulted from internal fraud rather than external factors.
