Wrapped Bitcoin (WBTC) has seen a tumultuous series of events lately, with its position on
Coinbase majorly shifting. Initially, WBTC was in danger of being removed from Coinbase, primarily due to allegedly presenting an 'Unacceptable Risk' associated with
Justin Sun. The consequences were quick, with a significant drop in the WBTC price to $5200 on
Binance. Several lawsuits were filed against Coinbase over this action, including a notable $1 billion suit filed by
BiT Global, accusing Coinbase of unfair competition and antitrust violations. However, most of these legal challenges were unsuccessful with judges refusing to block Coinbase from the delisting. Interestingly, an unexpected turn-around happened, and
Trump's World Liberty Financial began swapping its holdings from Coinbase BTC to WBTC. This action came despite the delisting controversy, and the
Trump-linked financial platform threw over $100M on WBTC, ETH, and other tokens ahead of an inauguration. Conversely, while WBTC was experiencing this rollercoaster ride, alternatives such as
cbBTC were gaining traction, with Coinbase promoting it as a wrapped Bitcoin alternative. Finally, BitGo announced that despite recent concerns, WBTC's security remains intact.
WBTC Coin News Analytics from Fri, 05 Jul 2024 05:02:26 GMT to Wed, 23 Apr 2025 07:36:41 GMT -
Rating -5
- Innovation 2
- Information 8
- Rumor -4
