Coinbase and BiT Global Settle Legal Dispute Over Delisted Token
ByAinvest
Sunday, Jun 8, 2025 4:41 am ET1min read
BIT--
Coinbase had previously delisted wBTC from its platform, citing "unacceptable risk" and concerns about Justin Sun's involvement. Sun, the Chinese-born crypto billionaire, became affiliated with wBTC through a partnership in August 2023. The delisting was seen as a move to protect Coinbase's customers and manage security risks [2].
The lawsuit alleged that Coinbase's decision to delist wBTC was anti-competitive and violated numerous state and federal laws. BiT Global argued that the delisting damaged liquidity and market confidence in wBTC, while also giving an edge to Coinbase's competing product, cbBTC [3].
Despite the lawsuit's dismissal, the details of the settlement remain undisclosed. However, the resolution marks the end of a legal chapter between the two firms. Coinbase has maintained that its decision to delist wBTC was driven by a commitment to user safety and risk management.
References:
[1] Coinbase and BiT Global Settle wBTC Delisting Lawsuit. (2025, June 7). Retrieved from https://coinmarketcap.com/community/articles/6844ee732b7aad02b57c1568/
[2] BiT Global Sued Coinbase Over wBTC Delisting in California Court. (2025, June 7). Retrieved from https://cryptonews.com/news/coinbase-bit-global-settle-legal-fight-over-wbtc-delisting/
[3] Lawyers for BiT Global Drop Lawsuit Against Coinbase Over wBTC Delisting. (2025, June 7). Retrieved from https://www.theblock.co/post/357379/justin-sun-connected-bit-global-drops-wbtc-related-legal-spat-with-coinbase
COIN--
A legal dispute between Coinbase and BiT Global over the delisting of BiT Global's Wrapped Bitcoin (wBTC) token has been settled. BiT Global has dropped its lawsuit, and each side will cover its own legal fees. Coinbase had defended its decision to delist the token, citing an "unacceptable risk" and concerns about Justin Sun's involvement. The lawsuit's details remain undisclosed.
In a significant development for the cryptocurrency market, Coinbase and BiT Global have settled their legal dispute over the delisting of BiT Global's Wrapped Bitcoin (wBTC) token. The lawsuit, filed by BiT Global in the Northern District of California, was dismissed with prejudice, meaning it cannot be brought again. Both parties have agreed to cover their own legal fees [1].Coinbase had previously delisted wBTC from its platform, citing "unacceptable risk" and concerns about Justin Sun's involvement. Sun, the Chinese-born crypto billionaire, became affiliated with wBTC through a partnership in August 2023. The delisting was seen as a move to protect Coinbase's customers and manage security risks [2].
The lawsuit alleged that Coinbase's decision to delist wBTC was anti-competitive and violated numerous state and federal laws. BiT Global argued that the delisting damaged liquidity and market confidence in wBTC, while also giving an edge to Coinbase's competing product, cbBTC [3].
Despite the lawsuit's dismissal, the details of the settlement remain undisclosed. However, the resolution marks the end of a legal chapter between the two firms. Coinbase has maintained that its decision to delist wBTC was driven by a commitment to user safety and risk management.
References:
[1] Coinbase and BiT Global Settle wBTC Delisting Lawsuit. (2025, June 7). Retrieved from https://coinmarketcap.com/community/articles/6844ee732b7aad02b57c1568/
[2] BiT Global Sued Coinbase Over wBTC Delisting in California Court. (2025, June 7). Retrieved from https://cryptonews.com/news/coinbase-bit-global-settle-legal-fight-over-wbtc-delisting/
[3] Lawyers for BiT Global Drop Lawsuit Against Coinbase Over wBTC Delisting. (2025, June 7). Retrieved from https://www.theblock.co/post/357379/justin-sun-connected-bit-global-drops-wbtc-related-legal-spat-with-coinbase
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