WBTC Coin, Wrapped Bitcoin, has been experiencing turbulence lately due to its recent listing and delisting events on crypto exchange Coinbase. Coinbase's decision to delist WBTC, reportedly due to the controversial involvement of Justin Sun, has spurred a lawsuit against the platform by Bit Global. Further reports indicate that Coinbase has moved to dismiss the lawsuit, and a federal judge has allowed the delisting. Amid the legal squabbles, the value of WBTC has been heavily impacted, with a noticeable drop to $5,200 on Binance. The platform's removal of WBTC has spurred debates about its reasoning and potential unfair competitive practices. While the removal was linked to Justin Sun's unacceptable risk, many suggested it was to promote Coinbase's own wrapped Bitcoin product,
cbBTC. Trump-Linked World Liberty Financial has displayed its support for WBTC, having purchased substantial amounts. Regulatory issues aside, if one had invested $1K in Wrapped Bitcoin at its launch, amid these controversies, it would merit a significant return. However, the controversies and lawsuits surrounding its delisting have seemingly affected WBTC's reputation and trust among investors.
WBTC Coin News Analytics from Wed, 07 Aug 2024 07:00:00 GMT to Sun, 30 Mar 2025 00:00:30 GMT -
Rating -7
- Innovation 3
- Information 9
- Rumor -3
