Coinbase and BiT Global have reached a legal settlement that ended their dispute over the delisting of BiT Global’s wrapped bitcoin (wBTC) token on Coinbase.
According to a joint court filing, BiT Global has agreed to dismiss its lawsuit against the crypto exchange with prejudice, meaning the case cannot be brought again in the future. The filing notes that both companies will cover their own legal expenses.
BiT Global had filed the lawsuit last year in the Northern District of California after Coinbase delisted the token over what it said was “unacceptable risk” that the tokenized BTC would “fall into the hands of Justin Sun.”
Sun became affiliated with wBTC in August last year through a partnership, prompting Coinbase to question BiT Global about his role. Sun, a Chinese-born crypto billionaire, has nevertheless been supporting the token, with World Liberty Financial dropping its cbBTC for wBTC after he joined as an advisor.
The suit alleged the exchange’s decision was unjustified and harmed the token’s liquidity and reputation while favoring Coinbase’s competing asset cbBTC. Coinbase launched cbBTC just two months before announcing it was delisting wBTC.
The dismissal does not disclose any settlement terms beyond the cost arrangement.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin Magazine Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock Bitcoin treasury Strategy…
The Ethereum treasury company added nearly 10,000 ETH while expanding its stock buyback, citing ether…
The put/call ratio has fallen to about 0.52 from 0.76 in late June, and one-week…
The vast majority of the activity was concentrated in BlackRock’s IBIT product accounting for nearly…
Your day-ahead look for July 27, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
CoinEx's Jeff Ko sees bitcoin staying range-bound near $65,000 while retreating oil, a 4.7% 10-year…