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.
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Coinbase will likely be able to move forward with its intention to suspend wBTC trading on Dec. 19 after a challenge in federal court.
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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.
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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. […]
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BiT Global is suing Coinbase for $1 billion, claiming unfair practices after it delisted wBTC to promote its own competing product, cbBTC.
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Coinbase contends the delisting was based on a standard review of WBTC’s suitability to trade on the exchange.
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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 […]
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WBTC is still the most popular Bitcoin wrapper, with nearly $10 billion in TVL, according to DefiLlama.
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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 […]
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The proposal would effectively transfer control of WBTC to Threshold.
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