Coinbase is facing a $1 billion lawsuit from BiT Global Digital Limited over allegations of anti-competitive practices. The lawsuit accuses Coinbase of delisting Wrapped Bitcoin (wBTC) in order to promote its own wrapped Bitcoin product, cbBTC. BiT Global claims that this move caused financial losses and reduced market confidence in wBTC. The lawsuit cites the Sherman Act and accuses Coinbase of attempting to monopolize the wrapped Bitcoin market. Coinbase has stated that the delisting was based on maintaining listing standards. BiT Global views the delisting as an attempt to undermine wBTC in favor of cbBTC.



Other News from Today