Coinbase has responded to a lawsuit filed by BiT Global, which sought to halt the exchange’s planned delisting of wrapped Bitcoin (WBTC). Coinbase argued that the lawsuit lacks merit and the firm’s request for a temporary restraining order (TRO) should be denied. The exchange delisted WBTC due to concerns about risks stemming from its association with TRON founder Justin Sun and the lack of clarity about the token’s reserves.
Coinbase’s chief legal officer, Paul Grewal, called the lawsuit “bogus” and said it lacks merit. The exchange also claimed that its decision aligns with its responsibility to protect platform integrity and customer confidence. A hearing on BiT’s TRO request is scheduled for Dec. 18. If granted, it would temporarily delay Coinbase’s delisting of WBTC, currently set for Dec.
19.
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