Coinbase: Delists wBTC due to "unacceptable risks" brought by Sun Yuchen

2024-12-18 08:01:10

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ChainCatcher news, according to CoinDesk, Coinbase stated that it decided to delist wBTC due to "unacceptable risks" posed by Justin Sun. Last week, the issuer of wBTC, BiT Global, filed a broad lawsuit accusing Coinbase of improperly favoring its competitor cbBTC.

However, in a 25-page response, Coinbase indicated that this decision was related to Justin Sun, the founder of the Tron blockchain, who has also been accused of fraud and market manipulation in the United States. According to Coinbase's documents, Justin Sun is linked to wBTC through a partnership announced in August. Coinbase stated, "Given Justin Sun's involvement, like many other companies in the industry, Coinbase has serious doubts about whether BiT can be a reliable manager."

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