Bitcoin SV Re-Listed on Binance? Chinese Fake News Kindles 93% Pump

Bitcoin SV (BSV) gained 93% in value, coinciding with the spread of fake news regarding its imminent re-listing on Binance.

Chinese investors may have been hit hard after a doctored WeChat screenshot was circulated around the country’s “crypto media.” That’s according to VC and analyst, Dovey Wan, who spotted the fake post and offered a translation of its doctored content.

According to the faked WeChat screenshot, the entire Bitcoin SV and Satoshi Nakamoto saga was quietly sorted out between Craig Wright and Binance’s CZ. The translated text reads: “CSW transferred 50k BTC from the biggest BTC wallet to Binance, which confirmed he is the real Satoshi. As such CZ will re-list BSV and make an official apology on Twitter.”

That apology, and re-listing, never came. Wan revealed a tendency for FOMO among Chinese retail investors, who she said display a herd mentality. Wan, a founding partner at Primitive Ventures, continued:

“I don’t know how much this contribute to the pump, but this fake news snapshot went viral in many Chinese retail groups around the same time and folks (thought it was real) got super excited about it. CHINESE RETAIL IS THE BEST HERD EVER.”

Craig Wright also went on about the subject of scams this week. Writing in a recent blog post, Wright continued to foretell the end of cryptocurrency as we know it. Speaking of banking scams and economic malfeasance, Wright wrote: “The same still goes on today, and worse, it is the foundation for schemes like Tether, ICOs, and the bucket shops people call exchanges. All of them will end. Such is my vision. Such is the Satoshi Vision.”