Coinbase, a heavyweight in the cryptocurrency marketplace, has centered attention on
wrapped Bitcoin (wBTC) following the
delisting of the token. This action has sprung from a number of observable concerns, primarily due to the
connection of wBTC to Justin Sun-linked
BiT Global. The intense turn of events has led to Sun calling the move an 'unacceptable risk'. The controversial delisting of wBTC is noted to be closely tied to escalating concerns about Sun's involvement and his
influence over the protocol. Coinbase now plans to shift its primary focus to its own wrapped Bitcoin product. This aggressive move has drawn opposition in the form of a robust $1 billion lawsuit from BiT Global, accusing Coinbase of delisting wBTC to drive growth for its rival
cbBTC. Amidst the confronting disputes, world Liberty Financial revealed that they are changing their focus from cbBTC to wBTC. Another surprising event came when the price of wBTC dropped to $5,200 on Binance, following the announcement of Coinbase's plans to delist. Meanwhile, Sky is reconsidering its plan to offboard wBTC after a productive chat with the BitGo CEO. The Coinbase saga continues to unfold as it faces lawsuits and backlash primarily from Justin Sun and BiT Global over the removal of wrapped Bitcoin (wBTC).
WBTC Coin News Analytics from Wed, 07 Aug 2024 07:00:00 GMT to Wed, 26 Mar 2025 14:23:29 GMT -
