Coinbase takes aim at Justin Sun in WBTC lawsuit response
Coinbase has filed its response to BiT Global’s lawsuit over the delisting of Wrapped Bitcoin (WBTC). Justin Sun-advised BiT Global’s original lawsuit centered around Coinbase’s decision to delist WBTC. The custody provider alleged that this was an unfair assault on its reputation that could potentially lead to it losing “more than $1 billion in its market valuation.” It additionally alleges that Coinbase was attempting to monopolize the tokenized bitcoin (BTC) space to favor its own product, Coinbase Wrapped Bitcoin (cbBTC). BiT Global is seeking an order that would obligate Coinbase to relist WBTC. Coinbase to delist WBTC months after Justin Sun controversy Read more: Justin Sun-advised HTX has redeemed 7,300 WBTC it did not disclose In its response to the lawsuit, Coinbase took aim at Sun . It pointed out that the decision to delist WBTC was centered around a belief that there was an “unacceptable risk that control of wB...