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BiT Global Digital is suing Coinbase for $1 billion, alleging antitrust violations after the platform delisted wBTC.

BiT Global has filed a lawsuit against Coinbase, the largest crypto trading platform in the United States, according to a Dec. 13 court filing. The Justin Sun-linked crypto custodian alleged that the US exchange unfairly removed wrapped Bitcoin (WBTC) from its platform to favor its in-house product, Coinbase Wrapped Bitcoin (cbBTC).

Bit Global Digital, the global controller and issuer of Wrapped BTC (WBTC) filed a complaint against Coinbase, Inc. The lawsuit seeks damages from the delisting of WBTC from the exchange. Bit Global Digital estimated damages of up to $1B after the delisting of Wrapped BTC (WBTC) from Coinbase.

Justin Sun-backed BiT Global has sued crypto exchange Coinbase for unfairly delisting WBTC to uplift a competing Bitcoin product.

Bit Global has filed a $1 billion lawsuit against Coinbase, alleging anticompetitive practices following the delisting of the wrapped Bitcoin token (WBTC) from the exchange. The lawsuit, filed in the U.S. District Court for the Northern District of California, accuses Coinbase of exploiting its dominant position in the market to favor its own product, cbBTC.

In a latest development, Bit Global has filed a lawsuit against crypto trading platform Coinbase Global Inc claiming that Coinbase has unlawfully delisted its WBTC token so it could promote the rival cbBTC. In a Dec.

The lawsuit could reshape crypto exchange practices, highlighting potential antitrust issues and influencing future digital asset listings. The post BiT Global sues Coinbase over unfairly delisting wBTC while allowing PEPE, WIF to trade appeared first on Crypto Briefing.

BiT Global is suing Coinbase for $1 billion, claiming unfair practices after it delisted wBTC to promote its own competing product, cbBTC.

Justin Sun's BiT Global filed a suit against Coinbase for delisting wBTC and launching a competing product.

American crypto trading platform Coinbase Global Inc. is in the spotlight after Bit Global named it a defendant in a new lawsuit. Bit Global, a professional digital asset custody and management solutions provider, claimed Coinbase unlawfully delisted its WBTC token so it could promote the rival cbBTC.

TL;DR Wrapped Bitcoin (WBTC) experienced a flash crash on Binance, dropping to approximately $5,200 due to a technical glitch, causing panic among traders. The price of WBTC quickly rebounded, closing near $97,000, highlighting the volatility and risks associated with cryptocurrency trading.

The price of Wrapped Bitcoin tanked below $6,000 on Binance just a few days after Coinbase delisted it amid liquidity concerns.

Five days ago, Coinbase announced plans to remove wrapped bitcoin (WBTC) from its platform on Dec. 19, 2024. In the days following the announcement, the WBTC supply has contracted. Wrapped Bitcoin's Supply Drops by 5,844 Coins in 8 Days On Nov. 16, the WBTC supply on Ethereum was recorded at 146,734 coins.

BiT Global has accused Coinbase of suspending trading of Wrapped Bitcoin (wBTC) on Dec. 19 to boost its own Bitcoin wrapper, Coinbase Wrapped BTC (cbBTC).

Coinbase contends the delisting was based on a standard review of WBTC's suitability to trade on the exchange.

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After Coinbase, Kraken has launched its very own wrapped Bitcoin product.

Kraken has introduced its wrapped Bitcoin token, kBTC, backed 1:1 by Bitcoin, and available on Ethereum and OP Mainnet.

On October 17, 2024, Kraken, one of the leading cryptocurrency exchanges in the world, announced the launch of its own Wrapped Bitcoin token, named kBTC. This token represents a tokenized version of Bitcoin (BTC) and promises to further strengthen Bitcoin's position as the “epicenter of cryptocurrencies”, according to the company.

In a recent update, the leading crypto exchange Kraken has announced the launch of Wrapped Bitcoin, kBTC, sparking market optimism. This new ERC-20 token is expected to boost the BTC's utility across decentralized finance (DeFi) platforms.

Crypto exchange Kraken has joined the race for dominance in the realm of Wrapped Bitcoins, unveiling its own Ethereum-based token, kBTC. The landscape of Wrapped Bitcoins is becoming more crowded as U.S.

Kraken's launch follows the recent introduction of Coinbase's wrapped bitcoin asset, cbBTC, with both tokens competing against WBTC.

According to Kraken, kBTC reinforces Bitcoin's position as the “epicenter of crypto” and empowers developers to explore new ways to use BTC.

The token will be available on both Ethereum and OP Mainnet.