- Binance and other exchanges won a major UK court case, defeating a $11.9B lawsuit over the delisting of Bitcoin SV.
- The court ruled investors aren’t entitled to hypothetical crypto profits, setting a key precedent for future litigation.
In a landmark ruling that could reshape the legal future of crypto, Binance and several other exchanges have successfully fended off a massive $11.9 billion class-action lawsuit in the UK over the delisting of Bitcoin SV (BSV).
On May 21, the UK Court of Appeal struck a major blow to the claim brought by BSV investors, who argued they were deprived of potential profits after Binance, Kraken, ShapeShift, and Bittylicious removed the controversial cryptocurrency from their platforms back in 2019.
Investors Can’t Sue for “What Might Have Been”
The plaintiffs contended that delisting BSV denied it a chance to rise in value like Bitcoin or Bitcoin Cash. But the court made one thing crystal clear: there’s no legal right to hypothetical gains in the crypto market. According to Master of the Rolls Sir Geoffrey Vos, “BSV was obviously not a unique cryptocurrency without reasonably similar substitutes.” The ruling emphasized that crypto investors must act to protect their own positions—not wait and hope for rebounds.
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A Wake-Up Call for Crypto Traders
The court’s position was firm: investors are responsible for mitigating their losses. Failure to switch assets or exit positions after unfavorable news—such as a delisting—weakens any claim for damages. “They cannot recover losses that they could reasonably have mitigated,” wrote Sir Geoffrey.
This decision dismantles the idea of recovering damages for “loss of a chance”—the speculative idea that BSV might have surged in value. Volatility is intrinsic to crypto, the ruling underscored, and courts won’t compensate for missed moonshots.
A Major Legal Win for Exchanges
This verdict isn’t just a win for Binance—it sets a precedent that could deter similar lawsuits in the future. Unless plaintiffs can show real, quantifiable losses tied directly to exchange actions, they’ll struggle to succeed in court.
The timing also favors Binance, which is currently seeking to dismiss a separate $1.76 billion claim from the FTX estate. With this victory, the exchange gains strong legal momentum in its ongoing battle against billion-dollar claims.
Courts are drawing a hard line—crypto profits aren’t promised, and imagined gains don’t count.