Close Menu
Cryprovideos
    What's Hot

    $400,000,000 Coinbase Hack Linked to India-Based Employee Caught Taking Photos of Computer Screen: Report – The Daily Hodl

    June 4, 2025

    XRP Ledger battles inflow of rip-off crypto tasks as Ripple eyes world monetary position

    June 4, 2025

    Floating-Level 8: Revolutionizing AI Coaching with Decrease Precision

    June 4, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»BiT World recordsdata lawsuit in opposition to Coinbase over allegations of breaching antitrust legal guidelines by delisting WBTC
    BiT World recordsdata lawsuit in opposition to Coinbase over allegations of breaching antitrust legal guidelines by delisting WBTC
    Crypto News

    BiT World recordsdata lawsuit in opposition to Coinbase over allegations of breaching antitrust legal guidelines by delisting WBTC

    By Crypto EditorDecember 14, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    BiT World recordsdata lawsuit in opposition to Coinbase over allegations of breaching antitrust legal guidelines by delisting WBTCBiT World recordsdata lawsuit in opposition to Coinbase over allegations of breaching antitrust legal guidelines by delisting WBTC

    BiT World has filed a lawsuit in opposition to Coinbase, the biggest crypto buying and selling platform in the USA, in accordance with a Dec. 13 court docket submitting.

    The Justin Solar-linked crypto custodian alleged that the US trade unfairly eliminated wrapped Bitcoin (WBTC) from its platform to favor its in-house product, Coinbase Wrapped Bitcoin (cbBTC).

    Antitrust violations

    In accordance with the court docket submitting, Coinbase is leveraging its dominance within the crypto market to suppress competitors. BiT World accused the trade of violating antitrust legal guidelines by changing WBTC with cbBTC to determine management over the wrapped Bitcoin market.

    The grievance famous that Coinbase’s actions are usually not solely anti-competitive however strategically aimed toward rising its transaction revenues as a result of transaction charges on its platform are anticipated to rise as cbBTC features traction.

    The submitting furthered:

    “On data and perception, Coinbase used this language—that it might not cost wrapping/unwrapping charges ‘at this time’—as a result of it plans to take action as soon as it has unfairly eradicated the competitors.”

    BiT World disputed Coinbase’s declare that WBTC was eliminated resulting from “itemizing requirements,” citing the trade’s current inclusion of meme cash like PEPE and MOG as proof.

    In accordance with the submitting, these actions reveal that the delisting was not about high quality however quite an try to seize WBTC’s market place. It added:

    “The choice to permit customers to commerce these memecoins makes clear that Coinbase didn’t delist WBTC due to any itemizing normal, however as a result of Coinbase coveted WBTC’s market share and wished it for itself.”

    By means of this lawsuit, BiT World seeks to revive competitors and stop additional centralization of energy. The agency goals to halt the delisting of WBTC and defend decentralized innovation within the crypto area.

    The wrapped Bitcoin market

    Coinbase’s choice to delist wBTC comes after a turbulent yr for the asset. BiT World turned a key custodian for WBTC this yr, following BitGo’s transfer to distribute custody management to a number of entities, together with the Hong Kong-based agency.

    This shift sparked issues inside the DeFi neighborhood resulting from Justin Solar’s connection to the crypto custodian, prompting MakerDAO and Aave to rethink WBTC as a collateral asset.

    Whereas these DeFi protocols in the end retained WBTC, the developments raised questions on its long-term stability. In response to those challenges, a number of companies, together with Coinbase, launched their very own wrapped Bitcoin merchandise.

    Nevertheless, Coinbase’s cbBTC has rapidly gained momentum to develop into the second-largest wrapped Bitcoin product behind WBTC. The token was deployed on Ethereum and its Layer 2 community Base in September and presently has a market capitalization of round $2 billion.

    Alternatively, WBTC, regardless of being among the many prime 20 cryptocurrencies with a $13.7 billion market cap, has seen its token provide shrink by over 20,000 BTC resulting from ongoing challenges.

    Talked about on this article



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    $400,000,000 Coinbase Hack Linked to India-Based Employee Caught Taking Photos of Computer Screen: Report – The Daily Hodl

    June 4, 2025

    XRP Ledger battles inflow of rip-off crypto tasks as Ripple eyes world monetary position

    June 4, 2025

    Crypto Funds Agency MoonPay Secures New York BitLicense – Decrypt

    June 4, 2025

    Why BlockDAG Is the Prime Presale Crypto: 150M Day by day Bonus Beats SPY & PEPETO

    June 4, 2025
    Latest Posts

    Semler Scientific Acquires 185 Bitcoin, Growing Complete Holdings To 4,449 BTC

    June 4, 2025

    Worth predictions 6/4: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK

    June 4, 2025

    Armstrong, Musk Slam U.S. Debt, Warn of Bitcoin Shift – Bitbo

    June 4, 2025

    Reality Social Seeks to Launch Spot Bitcoin ETF through NYSE Arca

    June 4, 2025

    An settlement in South Korea: new treasurer for Bitcoin

    June 4, 2025

    Shockingly Bullish Bitcoin Value Prediction Made by Legendary Enterprise Capitalist

    June 4, 2025

    South Korea’s new president races to approve Bitcoin ETFs for 16 million merchants

    June 4, 2025

    Moscow Trade Launches Bitcoin Futures For Certified Buyers

    June 4, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Hyperliquid Overview: All the things You Must Know About The Way forward for DeFi – BlockNews

    May 9, 2025

    Ripple Wins as SEC Ends Authorized Battle Over XRP | Stay Bitcoin Information

    March 20, 2025

    Snorter Token Surges Previous $350K – Greatest Crypto Presale to Purchase Now?

    June 3, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.