- BiT Global alleged Coinbase unlawfully delisted wBTC.
- Coinbase didn’t like Justin Sun’s undefined role at the issuer.
- The antitrust lawsuit in San Francisco breaks new legal ground.
A couple of months ago, a Coinbase team made a big call — it decided to delist a version of Bitcoin that runs on Ethereum, a cryptocurrency the exchange had offered customers since 2020.
Why the sudden change?
According to court documents, Coinbase suspected that Justin Sun, the billionaire founder of the Tron blockchain, exerted “potential control” over so-called wrapped Bitcoin, or wBTC.
Sun’s role was a dealbreaker, they decided.
“He has repeatedly been accused of, investigated for, and sued for financial misconduct,” attorneys for Coinbase wrote in court papers. “Reports of his alleged misdeeds abound in the press and crypto community more broadly.”
Crying foul
Up until late last year, Coinbase didn’t have an issue with wBTC. That changed…
