Coinbase and BiT Global Settle Lawsuit Over wBTC Delisting

In Brief:

BiT Global has dismissed its lawsuit against Coinbase over the wBTC delisting, ending the dispute with prejudice.

The case centered around concerns tied to Justin Sun’s involvement and Coinbase’s promotion of its rival token, cbBTC.

Coinbase and BiT Global have officially ended their legal battle surrounding the delisting of wrapped Bitcoin (wBTC) from Coinbase’s platform. According to a joint court filing, BiT Global agreed to dismiss the lawsuit “with prejudice,” meaning it cannot be refiled in the future. Both parties will bear their own legal expenses, with no additional settlement details disclosed.

BiT Global had initially sued Coinbase in the Northern District of California, accusing the exchange of unfairly delisting wBTC after labeling it an “unacceptable risk” due to its alleged ties to crypto entrepreneur Justin Sun. Sun became affiliated with the token last August, prompting Coinbase to raise questions about his influence on the project.

The lawsuit argued that the delisting damaged the token’s reputation and liquidity, especially given that Coinbase had launched its competing wrapped Bitcoin asset, cbBTC, just two months earlier. BiT Global claimed this gave Coinbase a conflict of interest and undermined wBTC’s market position.

While the settlement ends the legal dispute, the broader concerns over exchange influence and token favoritism remain active discussions in the crypto industry.

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