Coinbase sued by Bit Global for $1 billion, WBTC delisting controversy escalates!
New explosive news in the crypto world! Less than a month after Coinbase announced the delisting of WBTC, Bit Global directly unleashed the 'billion-dollar lawsuit hammer', claiming that Coinbase's actions were aimed at supporting its own product cbBTC, suppressing market competitors. This move is considered a milestone anti-monopoly battle in the industry!
The lawsuit points out that Coinbase's decision ignores market fairness, which could severely impact the WBTC ecosystem and even affect major players in the DeFi space like MakerDAO and Aave. Since its inception in 2019, WBTC has consistently held the market leader position with a market cap of $13.4 billion, a status not easily shaken by any project!
Moreover, Bit Global's new custodial role has just been finalized, backed by Sun Yuchen and Tron, adding more drama to this capital clash. Coinbase defends itself on the grounds of 'routine review', but the legal team behind Bit Global warns that this could set a dangerous legal precedent for the crypto industry, potentially reshaping the competitive landscape.
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