coinbase When we announced the incident that led to the lawsuit, we mentioned that this could pose a problem. If Justin Sun is involved in something in crypto, there is definitely a big problem there. Today’s event may occupy the agenda of cryptocurrency investors for a short time.
Lawsuit against Coinbase Exchange
In partnership with Justin Sun WBTCBit Global, the custody institution that participated in , filed a lawsuit against Coinbase exchange today. According to the application documents, it is claimed that Coinbase exchange unfairly delisted WBTC to promote its own product cbBTC. The interesting thing is that this case is basically ridiculous.
WBTC delist When we shared the announcement at the last minute, we mentioned that this step taken by the Coinbase exchange may be to expand its own wrapped BTC called cbBTC. Such steps of cryptocurrency exchanges are extremely normal. For example, in the last bear market, Binance removed USDC parities on its exchange and replaced them with alternative stablecoins.
Nowadays USDC made a strategic agreement with. And the Circle partnership with Coinbase did not say that it would sue the Binance exchange when USDC was delisted. We mentioned at the beginning of the article that things got ridiculous in crypto when Justin Sun got involved. Now Bit Global is going to court, saying “Coinbase exchange, which lists a meme coin like PEPE Coin, is delisting us with unfair competition.”
This incident will be remembered as one of the unforgettable jokes in the cryptocurrency markets. Coinbase exchange has not made a statement on the issue for now. Sun’s statement that his risk score increased with his involvement in WBTC would be enough for Coinbase to be right in the eyes of the community. Justin Sun has attracted the ire of the cryptocurrency community several times over many questionable events. You can access reports regarding the allegations against him in the search section.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
