Coinbase has filed a motion to dismiss a lawsuit initiated by BiT Global concerning the delisting of wrapped Bitcoin (wBTC). The lawsuit, lodged in December 2024, alleges antitrust injuries related to Coinbase's decision to discontinue wBTC trading in favor of promoting its own cbBTC product. In its Jan. 21 filing, Coinbase stated that the delisting was necessitated by concerns that control over wBTC could fall into the hands of Tron founder Justin Sun. Coinbase's legal team argues that the lawsuit should be dismissed in its entirety, pointing out that BiT Global has not proven any injury, nor has it demonstrated any exclusionary practices by Coinbase. The company had previously announced the suspension of wBTC trading effective December 19, 2024, prompting BiT Global's legal action. According to Coinbase, BiT Global's dominance in the wBTC market and the lack of market power on Coinbase's part undermine BiT's claims. A court hearing to consider the motion to dismiss is scheduled for April 3, 2025.

Source 🔗