BiT Global, a crypto custody firm tied to entrepreneur Justin Sun, has voluntarily dismissed its lawsuit against Coinbase over the delisting of Wrapped Bitcoin (WBTC).
The move ends a months-long legal dispute that spotlighted growing tensions between centralized exchanges and token custodians as control over key infrastructure becomes increasingly contested.
Filed on June 6 in the US District Court for the Northern District of California, the joint stipulation of dismissal closes the case with prejudice, which prevents it from being refiled.
Both parties agreed to cover their own legal fees and did not disclose settlement terms, if any.
Dispute over custody shift
BiT Global initially filed suit in December, weeks after Coinbase announced that WBTC would be delisted from its platform. The exchange said the token no longer met its listing standards, citing governance and risk concerns.
Days earlier, BitGo, the primary custodian for WBTC, had revealed a new partnership with BiT Global to
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