Coinbase Calls Out Justin Sun in Explaining Why It Booted wBTC

Coinbase, the largest U.S. cryptocurrency exchange by volume, flat out said in a court document filed yesterday that it delisted the wBTC token because of issuer BiT Global’s relationship with Tron founder Justin Sun. In response to a lawsuit over its November delisting of wBTC, the top wrapped bitcoin product on the Ethereum blockchain, Coinbase said in the very first sentence that it acted “due to the unacceptable risk that control of wBTC would fall into the hands of Justin Sun.” On Dec. 18, the judge hearing the case refused to issue a temporary restraining order barring Coinbase from delisting wBTC while the case goes forward. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io