CandleFocus Coinbase Faces Lawsuit over wBTC Delisting: Integrates Apple Pay for Crypto Conversions
2024-12-20
Author: Content Editor
Coinbase has responded to a lawsuit filed by BiT Global, a company connected to Justin Sun, after it announced it would delist wrapped Bitcoin (wBTC) from its platform. BiT Global alleges that the delisting is defamatory and aims to monopolize the tokenized Bitcoin market. Coinbase countered that it made the decision after internal reviews and concerns about Sun's past financial misconduct. The lawsuit also accuses Coinbase of promoting its own product, cbBTC, over wBTC and violating federal laws against monopolistic practices. Meanwhile, Coinbase has integrated Apple Pay for fiat-to-crypto conversions, reflecting US regulatory trends and Apple's growing interest in digital assets.
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