Coinbase Delists wBTC Due to Unacceptable Risks Posed by Justin Sun

Cryptocurrency exchange Coinbase has abruptly delisted Wrapped Bitcoin (wBTC), intensifying its conflict with BitGlobal.

On the 17th (local time), according to cryptocurrency exchange CoinDesk, Coinbase stated in court documents that "the reason for delisting wBTC is Justin Sun. In the United States, Justin Sun is considered a person who poses unacceptable risks."

Furthermore, Coinbase expressed doubts about the credibility of BitGlobal, which has partnered with Justin Sun, stating, "We have not received any answers regarding the exact procedures of their partnership. After this investigation, we determined that there are potential risks with wBTC."

Previously, on the 14th, BitGlobal, the operator of wBTC, filed a lawsuit claiming that Coinbase unfairly delisted wBTC in favor of cbBTC (Coinbase Wrapped Bitcoin).