Recently, cryptocurrency exchange Coinbase delisted Wrapped Bitcoin (WBTC), which was intended to be a bridged version of BTC whose price was pegged to Bitcoin, citing the project’s connection to Justin Sun, who has been sued in the US.
However, the WBTC team filed a lawsuit against Coinbase due to this delisting decision, claiming that the company's delisting decision was due to the launch of its own equivalent product, cbBTC.
However, according to the latest development, Coinbase Chief Legal Officer Paul Grewal announced that Justin Sun and Bit Global were defeated in the case in question. The decision to delist WBTC will continue as usual. Coinbase officials congratulated the court on its decision in a statement.
On the other hand, interestingly, US President Donald Trump's cryptocurrency project, World Liberty Financial, announced today that it has added Justin Sun-linked WBTC to its structure, replacing Coinbase's bridged Bitcoin equivalent, cbBTC. Justin Sun had recently made a very large purchase of World Liberty Financial's token, WLFI.
*This is not investment advice.
