The court rejected the "Satoshi Nakamoto company"' $12 billion lawsuit against crypto exchanges

The UK Supreme Court rejected an appeal by BSV Claims, which sought $12 billion in damages from major crypto exchanges for delisting trading pairs with the Bitcoin Satoshi Vision (BSV) cryptocurrency.

BSV Claims was founded by Australian entrepreneur Craig Wright, who claims to be the anonymous creator of Bitcoin, known as Satoshi Nakamoto.

In 2024, BSV Claims stated that the delisting of BSV from crypto exchanges had negatively impacted the coin's value and slowed its growth, preventing BSV from becoming a competitor to Bitcoin. Since BSV's delisting in April 2019, the price of BTC has increased by 2,322%, reaching an all-time high of $124,700, while the price of BSV has fallen by 94%, to just $19.

This is the third time BSV Claims' claim has been dismissed. The company first appealed to the London Competition Appeal Tribunal in 2024, but the tribunal rejected its claims of "lost growth and lost opportunity" for BSV to appreciate.

BSV Claims then appealed to the Court of Appeal, which also dismissed the company's claim. The court explained that BSV holders were not entitled to multi-billion-dollar compensation, as they should have taken steps to prevent losses themselves after learning of the coin's delisting. The court also noted that even if BSV holders had been unaware for a long time, they could not claim an amount greater than the total value of their assets before the delisting of trading pairs from exchanges, nor could they claim compensation for consequential losses.