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Coinbase, BiT Global End Legal Fight Over WBTC Delisting
BiT Global agreed to dismiss its lawsuit against Coinbase, with each party covering its own legal expenses.
Updated Jun 9, 2025, 2:33 p.m. Published Jun 7, 2025, 5:21 p.m.
What to know:
- BiT Global ended its legal dispute over the delisting of wBTC with Coinbase.
- BiT Global alleged in the lawsuit that Coinbase’s delisting of wBTC was unjustified and harmed the token’s liquidity and reputation.
- Coinbase delisted wBTC over what it called “unacceptable risk” associated with Justin Sun’s affiliation with the token.
BiT Global has ended its dispute over the delisting of BiT Global’s wrapped bitcoin (wBTC) token on Coinbase.
According to a joint court filing, BiT Global has agreed to dismiss its lawsuit against the crypto exchange with prejudice, meaning the case cannot be brought again in the future. The filing notes that both companies will cover their own legal expenses.
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BiT Global had filed the lawsuit last year in the Northern District of California after Coinbase delisted the token over what it said was “unacceptable risk” that the tokenized BTC would “fall into the hands of Justin Sun.”
Sun became affiliated with wBTC in August last year through a partnership, prompting Coinbase to question BiT Global about his role. Sun, a Chinese-born crypto billionaire, has nevertheless been supporting the token, with World Liberty Financial dropping its cbBTC for wBTC after he joined as an advisor.
The suit alleged the exchange’s decision was unjustified and harmed the token's liquidity and reputation while favoring Coinbase’s competing asset cbBTC. Coinbase launched cbBTC just two months before announcing it was delisting wBTC.
The dismissal does not disclose any terms beyond the cost arrangement.
UPDATE (June 7, 2025, 22:30 UTC): Clarifies the filing was not a settlement.
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