Crypto Biz: Coinbase vs. BiT Global $1B wBTC dispute
This week’s Crypto Biz explores Coinbase’s wBTC controversial delisting, Deutsche Bank’s blockchain, USDT in Europe, FTX creditors repayment and BVNK’s move to the United States. Go to Source
BiT Global
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Judge won’t block Coinbase from delisting wBTC over Justin Sun claims
Coinbase will likely be able to move forward with its intention to suspend wBTC trading on Dec. 19 after a challenge in federal court. Go to Source
Coinbase slammed for linking WBTC delisting to Justin Sun
Some crypto community members have criticized Coinbase for not giving technical reasons for delisting WBTC and justifying its decision by citing Justin Sun-linked risks. Go to Source
Bit Global Files $1 Billion Lawsuit Against Coinbase Over WBTC Delisting
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. … Read more
Coinbase faces $1B lawsuit over wBTC delisting
BiT Global is suing Coinbase for $1 billion, claiming unfair practices after it delisted wBTC to promote its own competing product, cbBTC. Go to Source
BiT Global claims Coinbase delisted WBTC for ‘competitive advantage’
Coinbase contends the delisting was based on a standard review of WBTC’s suitability to trade on the exchange. Go to Source
WBTC Hits New High on Aave, Coinbase’s Wrapped Bitcoin Supply Soars
It’s been 48 days since Bitgo revealed its partnership with Bit Global on Aug. 9, 2024. Since that announcement, the supply of wrapped bitcoin (WBTC) held on Aave V3 has soared to a new peak. Meanwhile, cbBTC, the bitcoin derivative token from Coinbase, has hit a market cap of $247.8 million. Bitcoin Derivative Landscape Shifts … Read more
Wrapped Bitcoin supplied on Aave hits record high despite backing fears
WBTC is still the most popular Bitcoin wrapper, with nearly $10 billion in TVL, according to DefiLlama. Go to Source
Sky Adviser Recommends Halting Wrapped Bitcoin Offboarding
BA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision … Read more
DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’
The proposal would effectively transfer control of WBTC to Threshold. Go to Source
