In recent times,
Wrapped Bitcoin (WBTC) has seen a great deal of controversy and volatility. The negative sentiments around the cryptocurrency began with Coinbase announcing that it will
delist WBTC on December 19th. A lawsuit against Coinbase was quickly started by
BiT Global, accusing the exchange of delisting WBTC for a
competitive advantage, seeking damages amounting to $1 billion. This has led rapid price fluctuations for WBTC, even experiencing a
flash crash on the Binance exchange. However, despite these challenges, Trump-Backed
World Liberty Financial have shown interest in the token, significant
purchasing quantities of WBTC. Another notable issue has been the
association of Justin Sun with the WBTC, which isn't appealing to many in the crypto community. The legal battle has led to a discussion on Coinbase's
delisting practices, prompting questions about the influence of personalities like Justin Sun on crypto protocols. However, amid these tumultuous circumstances, WBTC was able to execute a
shift to a multi-jurisdiction custody arrangement. Lastly, with Coinbase shifting its focus to its own
wrapped Bitcoin product, questions have risen about the long-term future of WBTC.
WBTC Coin News Analytics from Wed, 14 Aug 2024 07:00:00 GMT to Sun, 06 Apr 2025 07:00:00 GMT -
Rating -6
- Innovation 4
- Information 8
- Rumor 7
