$WBTC Lawsuit Dropped as BiT Global Abandons Coinbase Legal Battle


BiT Global has permanently dismissed its lawsuit against Coinbase over the exchange's delisting of Wrapped Bitcoin ($WBTC).


The Hong Kong custodian sued in December after Coinbase removed $WBTC, citing "unacceptable risk" from Justin Sun's involvement.


Coinbase's Chief Legal Officer confirmed the exchange has "zero plans" to relist $WBTC despite the settlement.


Since the December delisting, Coinbase's competing cbBTC has tripled its market cap to $4.84 billion.


$WBTC remains the market leader with $13.88 billion in value, making it the 12th-largest #crypto token globally.


The federal judge overseeing the case had indicated she would likely grant Coinbase's motion to dismiss the suit entirely.

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June 09, 2025 at 9:01 PM
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