Coinbase Avoids $1 Billion Lawsuit Over WBTC Delisting

Coinbase has successfully dismissed a $1 billion lawsuit filed by Bit Global regarding the delisting of wrapped bitcoin (WBTC). The case was closed with prejudice, meaning it cannot be refiled. The suit accused Coinbase of anti-competitive behavior in relation to the delisting and alleged that it was designed to favor its newly launched token, cbBTC. Bit Global contended that this timing was deliberate, aiming to hinder competition from rivals.