Coinbase and BiT Global Resolve Legal Dispute Regarding WBTC Removal

BiT Global has resolved its dispute regarding the delisting of its wrapped bitcoin (wBTC) token on Coinbase. A joint court filing indicates that BiT Global has agreed to dismiss its lawsuit against the crypto exchange with prejudice, signifying that the case cannot be brought again in the future. The filing states that both parties will bear their own legal expenses.

BiT Global had initiated the lawsuit last year in the Northern District of California after Coinbase delisted the token, citing “unacceptable risk” that the tokenized BTC might “fall into the hands of Justin Sun.” Sun became associated with wBTC in August last year through a partnership, leading Coinbase to question BiT Global about his involvement. Despite the concerns, Sun, a prominent figure in the crypto world, has supported the token, with World Liberty Financial transitioning from cbBTC to wBTC after he joined as an advisor.

The lawsuit claimed that the exchange’s decision was unwarranted and detrimental to the token’s liquidity and reputation, while seeming to favor Coinbase’s competing asset, cbBTC. Coinbase had launched cbBTC just two months prior to announcing wBTC’s delisting.

The dismissal does not reveal any terms beyond the arrangement regarding costs.

UPDATE (June 7, 2025, 22:30 UTC): This update clarifies that the filing was not a settlement.