In a major development, BiT Global has dropped its lawsuit against Coinbase concerning the delisting of wrapped Bitcoin (wBTC). The legal action, initiated in the U.S., concluded without any financial settlement. Both companies have agreed to cover their own legal fees, signaling a shift towards competition within the crypto asset market, particularly focusing on wrapped tokens. ♂️ This decision marks a significant step forward for both firms. BiT Global was seeking redress over alleged unfair practices by Coinbase following the launch of its competing cbBTC token. The absence of damages or financial settlements highlights the competitive dynamics within the crypto landscape, and how they impact exchanges’ strategies for managing risks.