In a landmark decision that could shape future cryptocurrency litigation, Binance and several other crypto exchanges have successfully defeated a $11.9 billion lawsuit in the United Kingdom. The case, brought by investors of Bitcoin SV (BSV), alleged that the delisting of the asset in 2019 unfairly stripped them of the chance to profit from the coin’s potential. On May 21, the UK Court of Appeal delivered a strong message: there is no legal right to profits that were never guaranteed.

The lawsuit had its roots in actions taken six years ago, when Binance, Kraken, ShapeShift, and Bittylicious decided to remove BSV from their platforms. The coin, which is a fork of Bitcoin and was once publicly supported by controversial figure Craig Wright, saw its accessibility and trading volume drop significantly following the delistings. Investors who held BSV claimed these moves stunted the coin’s growth and prevented it from possibly reaching values comparable to Bitcoin or Bitcoin Cash.

However, the court disagreed. In the decision, Sir Geoffrey Vos, Master of the Rolls, noted that BSV was not a one-of-a-kind investment and had many similar alternatives in the market. Therefore, investors were not deprived of an irreplaceable opportunity. He emphasized that crypto markets are dynamic and full of comparable options, meaning the investors had choices and were not legally owed speculative gains.

A critical point in the ruling was the idea of investor responsibility. The court highlighted that it is up to investors to act prudently in volatile markets. If they believed the delisting would negatively impact BSV’s value, they had a responsibility to take action—such as reallocating their investments into similar digital assets. Failing to do so meant they missed the chance to minimize potential losses, and the court found that they could not blame others for that inaction.

One of the core claims by the plaintiffs was based on the concept of “loss of a chance.” They argued that delisting deprived them of the possibility to profit had BSV remained listed. But the court completely dismissed this line of reasoning, saying the unpredictable nature of crypto makes it impossible to assign legal value to hypothetical future gains. Investments in digital currencies are known for their instability, and therefore, imagined profits cannot be used as grounds for legal claims.

Instead, the only claims that would be entertained must involve verifiable financial damage. The court ruled that unless investors can show exact figures for their losses, including the value of their holdings at the time of delisting and any resulting measurable financial consequences, their cases would not stand in court.

This verdict sets a powerful legal precedent. Not only does it protect Binance and other exchanges involved in the case, but it also establishes a clear standard for future lawsuits involving digital assets. It signals to investors that courts are unlikely to entertain claims based solely on lost speculative opportunities.

For Binance, this ruling comes at a crucial time. The company is currently attempting to dismiss another major lawsuit filed by the bankrupt FTX estate, which is seeking $1.76 billion. Binance has countered that it had no role in FTX’s collapse, attributing that disaster to internal mismanagement and fraud within FTX itself.

Now armed with this significant UK legal victory, Binance may have more leverage in upcoming legal battles. The dismissal of the BSV case not only clears it of an enormous potential liability but also strengthens its position as regulatory scrutiny continues across multiple jurisdictions.

While crypto markets remain uncertain and full of legal challenges, this court decision sends a firm message to investors: profit potential does not equate to legal entitlement. As the digital asset space matures, courts are beginning to set clearer boundaries—pushing the responsibility for risk back onto investors.