💥 Coinbase's Major Decision: wBTC Delisted, Sun Yuchen in the Spotlight 💥

Recent reports indicate that Coinbase has made a shocking decision to delist wBTC due to the so-called 'unacceptable risk' posed by Sun Yuchen. This news has caused significant turmoil in the cryptocurrency world, with a strong market reaction.

Coinbase's Official Response:

In response to the lawsuit from BiT Global, Coinbase pointed out that the decision to cancel wBTC is related to Sun Yuchen. The reason is the partnership between Sun Yuchen and wBTC issuer BiT, which was established in August. Coinbase stated that given Sun Yuchen's 'involvement,' serious doubts were raised about whether BiT could be a reliable manager.

Sun Yuchen's Influence:

Sun Yuchen, the founder of the Tron blockchain, has become the direct reason for Coinbase's delisting of wBTC due to his association with it. During the due diligence process, Coinbase discovered that BiT refused to provide ownership and association information, prompting Coinbase to ultimately decide to delist wBTC.

Market Reaction:

With the exposure of this news, the volatility of the cryptocurrency market will become even more complex. The subsequent impact of Coinbase delisting wBTC and how Sun Yuchen will respond to this crisis will become the focal point of market attention.

This incident highlights the risks and uncertainties inherent in the cryptocurrency market, as well as the significant influence that individual figures can have on it. Investors need to closely monitor the developments and the impact of this decision on the entire cryptocurrency market.

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