@jack-long
What happened? Lawyers for Coinbase, the leading US centralized crypto exchange (CEX), have asked the US District Court for the Northern District of California to dismiss a lawsuit filed against it by BiT Global, a cryptographic giant, in connection with the delisting of the wrapped bitcoin issued by it under the ticker symbol wBTC .
What else is known? Coinbase removed wBTC from its platform late last year, shortly after it announced the launch of its own wrapped bitcoin, cbBTC, on its second-layer (L2) Base network based on the Ethereum blockchain.
As for wBTC, it was initially managed by custodian BitGo, which in August last year announced the launch of a joint venture with BiT Global.
The latter is partly owned by the founder of the TRON blockchain and the head of the HTX and Poloniex exchanges, Justin Sun, and his participation in the management of wBTC has attracted criticism from some members of the crypto community.
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