Justin Sun-Linked BiT Global Sues Coinbase For $1B Over WBTC Delisting

Coinbase is facing a $1 billion legal challenge from BiT Global over its decision to delist Wrapped Bitcoin (WBTC). On Dec. 13, BiT Global filed a lawsuit demanding $1 billion in damages in response to Coinbase, the largest U.S.-based cryptocurrency exchange, announcing it would begin delisting WBTC from Dec. 19 due to the token no longer meeting its listing standards. The lawsuit accuses Coinbase of engaging in anti-competitive behavior, noting that Coinbase launched its own Bitcoin-backed ERC-20 token, cbBTC , in September. As such, BiT Global claims that Coinbase violated the Sherman Act. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io