Bit Global Sues Coinbase for $1 Billion Over WBTC Delisting: Cash Back Implications
Bit Global recently made headlines by taking legal action against Coinbase, filing a whopping $1 billion lawsuit. The crux of the matter is Bit Global accusing Coinbase of engaging in anticompetitive practices when they delisted Wrapped Bitcoin (WBTC) in favor of their own cbBTC token. This bold move led Bit Global to believe that Coinbase used its powerful position to push its own product to the forefront, hence the lawsuit. The lawsuit was officially filed in the U.S. District Court for the Northern District of California. This legal battle is sure to capture the attention of those in the finance and securities world as it unfolds. Stay tuned for updates as this story develops further.
