Coinbase has delisted Wrapped Bitcoin (wBTC) from its exchange, citing concerns about Justin Sun, the founder of Tron (TRX). In a 25-page response to a lawsuit filed by Bitglobal, a cryptocurrency exchange that claims Coinbase unfairly delisted wBTC, Coinbase stated that "the decision to delist was made due solely to concerns related to Justin Sun, who is facing allegations of fraud and market manipulation in the United States." Coinbase also expressed concerns about the credibility of BitGlobal, given Justin Sun's involvement. They stated that they inquired about the extent of Sun's involvement after the partnership was announced but did not receive a response. After conducting due diligence, Coinbase concluded that Sun's affiliation with and potential control over wBTC created unacceptable risks to their customers and the integrity of their exchange. Justin Sun joined the wBTC network through a partnership with BitGlobal in August. The partnership was seen as a major step forward for wBTC, as it would allow the token to be used on the Tron blockchain. However, the partnership has now been terminated following Coinbase's decision to delist wBTC. The delisting of wBTC is a significant blow to the token. wBTC is the second-largest wrapped Bitcoin token by market capitalization, and its removal from Coinbase will likely have a negative impact on its price. It is also a sign of the growing regulatory scrutiny of the cryptocurrency industry.