Coinbase has asked a federal judge to dismiss a lawsuit filed by BiT Global following the platform's decision to delist wrapped BTC.
In a brief filed with the US District Court for the Northern District of California on Jan. 21, Coinbase argued for the dismissal of BiT Global's lawsuit, citing the company's connection to Tron founder Justin Sun.
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The exchange's legal team stated the decision to delist wrapped Bitcoin was made due to concerns that Sun could take control of wBTC.
The platform had announced in November 2024 that it would stop trading wBTC as of December 19.
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BiT Global responded by filing a lawsuit on December 13, claiming that Coinbase's decision had negatively impacted the wBTC market. However, a judge refused to issue a restraining order to prevent the exchange from delisting wBTC.