How will the other exchanges, in this case Bitfinex, behave following the delisting of Bitcoin SV by Binance?
Paolo Ardoino, Chief Technical Officer of Bitfinex, one of the world’s leading historical exchanges, is trying to answer this question.
On the one hand, the community is putting strong pressure on the exchanges to remove from circulation the cryptocurrency of Craig Wright, guilty of offering a real bounty on the identity of the creator of the Lightning Network Torch, Hodlonaut.
However, Paolo Ardoino’s opinion is negative and, according to him, Bitcoin SV should not be delisted. While understanding the motives of the community, the CTO says, “Delisting a coin in this way would harm our customers… and make them lose money”.
For these reasons, the operator of an exchange should always be on the side of the customers and put himself in their shoes, whatever the reasons against a currency.
According to Paolo Ardoino, the only real reason why an exchange should be delisting a coin is when there are security problems, keeping a secular attitude towards taking positions, no matter how justifiable, of the community as a whole.
The purpose of an exchange platform, from the point of view of business ethics, is to protect, not to endanger customers and the delisting increases the level of danger to operators. Even the interviewer from Whalepool agrees, also because there is another danger: a crypto that is excluded from all exchanges and has sufficient resources could also develop its own exchange solution, thus making these hypotheses of retaliation completely useless.
The theme highlighted by Bitfinex is central to the business sector: a company’s business ethics is first and foremost to be directed towards its customers, who must always be protected, obviously within the framework of the law.