Cryptocurrency exchange Coinbase has delisted Wrapped Bitcoin (WBTC), a version of Bitcoin bridged to the Ethereum network. Justin Sun, who recently joined WBTC's management along with BitGo, filed a lawsuit against Coinbase, claiming that WBTC was maliciously delisted after Coinbase launched its own equivalent altcoin, cbBTC. Coinbase defended its decision by citing Sun's alleged bad behavior and the need to protect its users, pointing to reports of financial irregularities and ongoing investigations by U.S. authorities. BitGo claims Coinbase's delisting is unfair and constitutes anti-competitive behavior, but Coinbase countered that the legal arguments were "frivolous" and no real harm would come from the delisting decision.



Other News from Today