Coinbase's chief legal officer, Paul Grewal, responded to criticism regarding the exchange’s token listing and delisting practices after a $1 billion lawsuit was filed by BiT Global Digital. The lawsuit alleges that Coinbase's decision to delist Wrapped Bitcoin (wBTC) in November was intended to harm the crypto market and promote its own competing token, Coinbase BTC (cbBTC). Grewal defended the exchange's commitment to high listing standards, asserting that assets are delisted only when they fail to meet these standards. However, this stance has faced pushback from industry insiders, including Tron founder Justin Sun, who questioned the company’s transparency in relation to CEO Brian Armstrong’s statement that Coinbase remains “asset agnostic.” The lawsuit claims that Coinbase’s actions constitute monopolization under the Sherman Act and includes accusations of predatory practices aimed at eliminating competition for cbBTC. Coinbase had previously announced the delisting of wBTC on November 19, referring to undisclosed compliance failures, all while continuing to list other tokens.

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