UK Supreme Court rejects appeal in $13 billion BSV case

According to market news, the UK Supreme Court last week rejected an appeal by BSV investors in a case in which they tried to claim more than $13 billion from a well-known crypto exchange. The appeal stemmed from losses caused by the falling value of BSV tokens after major crypto exchanges such as Binance and Kraken removed them in 2019. The latest proceedings and leave to appeal were handled by three court judges, who ultimately rejected the appeal. The appellant, BSV Claims Limited, claimed that the immediate drop in value and potential growth of the tokens after they were removed had caused "immediate and ongoing impact" and losses from "missed growth effects" to token holders. In July 2024, the UK Competition Court of Appeal rejected the appellant's claim of a "missed growth effect", rejecting the assumption that BSV would eventually grow to the same value as Bitcoin. In May this year, the appellant tried to revive the claim, but it was rejected again.