Bit Global Files Lawsuit Against Coinbase For Delisting WBTC

The post Bit Global Files Lawsuit Against Coinbase For Delisting WBTC appeared first on Coinpedia Fintech News

In a latest development, Bit Global has filed a lawsuit against crypto trading platform Coinbase Global Inc claiming that Coinbase has unlawfully delisted its WBTC token so it could promote the rival cbBTC. 

In a Dec. 13 complaint, BiT Global alleges that Coinbase’s decision to delist wBTC was to promote its own competing product, cbBTC, that has caused massive financial losses and deteriorated consumer confidence in wBTC.

We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET.