Coinbase is being sued by BiT Global for spending wrapped Bitcoin (wBTC). The crypto firm alleges that Coinbase’s anti-competitive action could harm its business and that it violated state and federal laws.
Coinbase’s Decision to Delist wBTC
On November 19, 2024, Coinbase announced it would delist wBTC by December 19th. The exchange explained that the decision was taken owing to periodic reviews of its listing standards.
This comes less than a week after BitGo announced a strategic partnership with BiT Global to oversee wBTC’s custody.
wBTC’s primary custodian, BitGo, also revealed that asset custody would be spread across three entities.
But BitGo, Bit Global Trust, and a subsidiary in Singapore each hold one of the multisig keys.
That did not stop wBTC, and its status remained unaltered despite concerns from major DeFi platforms such as MakerDAO and Aave.
Now that BiT Global is linked to Justin Sun, it has become a key part of wBTC’s future. In the new partn
We współpracy z: https://www.thecoinrepublic.com/2024/12/14/bit-global-sues-coinbase-over-wrapped-bitcoin-delisting-drama/
