Coinbase delisted wBTC, accused of being related to Justin Sun, criticized
Coinbase was criticized for delisting Wrapped Bitcoin (WBTC). It was said that the reason for the delisting was related to Justin Sun, but Coinbase did not provide any technical evidence. This is quite funny, because Coinbase itself has a lot of regulatory issues that have not been resolved.
On December 17, Coinbase responded to BiT Global's lawsuit. BiT Global said that Coinbase delisted WBTC in November, causing them to suffer heavy losses. Coinbase said that the delisting was because Justin Sun was "too risky", such as financial impropriety, regulatory investigation, and the relationship between BiT Global and Justin Sun.
Coinbase said: "After checking, we found that Justin Sun has a relationship with WBTC and may control WBTC, which poses a great risk to the reputation of our customers and the exchange." As soon as this was said, people in the crypto circle were furious, saying that Coinbase's reason was too far-fetched, with no legal basis and no technical support.
BiT Global was not to be outdone, and sued Coinbase on December 13, saying that delisting WBTC was illegal and would cause economic damage to WBTC. They also said that Coinbase listed other tokens, such as meme coins, which are much less relevant than WBTC. BiT also accused Coinbase of promoting its own cbBTC, violating antitrust laws, and trying to monopolize.
Coinbase explained that it delisted WBTC because it was worried that Sun Yuchen's affairs would affect the security of the platform and customer trust. But critics did not buy it, saying that Coinbase was just making excuses and actually did not like Sun Yuchen. Others pointed out that Coinbase itself was also a troublemaker, and there were still so many regulatory issues that had not been resolved, and it was still questioning others.
For example, a big shot named Pledditor said: "Coinbase removed WBTC just because they don't like Justin Sun. They didn't give any technical or legal basis." "This is retribution." He also said.
Gabor Gurbacs, a consultant at VanEck, also ridiculed Coinbase: "Has Coinbase been investigated less by the SEC and other agencies? Maybe more than Justin Sun.
For the next layout direction, I will lead everyone to target the profit opportunities of copycats, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and I will lead you to layout the entire bull market!
