Summary
- BiT Global announced that it has sued Coinbase for the unfair delisting of Wrapped Bitcoin (WBTC).
- BiT Global pointed out that Coinbase's delisting of WBTC to launch its own product is an anti-competitive decision.
- They warned that this decision by Coinbase could negatively impact the virtual asset sector.
According to the Unfolded X (formerly Twitter) account on the 13th (local time), the Hong Kong-based virtual asset (cryptocurrency) exchange BiT Global, which is presumed to be influenced by Justin Sun, the founder of TRON (TRX), has filed a lawsuit against Coinbase for the unfair delisting of Wrapped Bitcoin (WBTC).
BiT Global claimed, "Coinbase delisted WBTC and launched a competing product," stating that "this is an anti-competitive decision that violates numerous state and federal laws."
They also criticized, "We believe this decision sets a terrible precedent in the virtual asset sector," adding, "If an exchange the size of Coinbase delists a competing product to launch its own, who can be safe?"
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
