American crypto trading platform Coinbase Global Inc. is in the spotlight after Bit Global named it a defendant in a new lawsuit. Bit Global, a professional digital asset custody and management solutions provider, claimed Coinbase unlawfully delisted its WBTC token so it could promote the rival cbBTC.
The Bit Global Stance Against Coinbase
In the 36-page filing, Bit Global accused Coinbase of 8 offenses including but not limited to monopolization, trade libel and the violation of the Lanham Act. The custodian firm said Coinbase delisted WBTC as it is a major competitor to its own rival, the cbBTC.
The plaintiff argued that Coinbase has listed many memecoins which unlike WBTC have no inherent value other than jokes. It also reaffirmed that delisting WBTC in place of these memecoins proves the exchange did not make the move based on any defined listing standards.
“Like all the centralized tech giants before it, Coinbase gives lip service to the innovation of a decentralized world,” the firm’s lawsuit reads. “But in the case of wrapped Bitcoin, Coinbase viewed it as just another cash grab.”
This is a developing story, please check back for updates!!!
The post Just In: Bit Global Files Lawsuit Against Coinbase Over WBTC Delisting appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed