Coinbase legal chief addresses $1B lawsuit tied to wBTC delisting

Coinbase’s chief legal officer has responded to criticism of the exchange’s token listing and delisting practices after a $1 billion lawsuit accused the company of anticompetitive behavior regarding Wrapped Bitcoin.

Crypto exchange Coinbase is being sued for over $1 billion by BiT Global Digital, which is accusing the company of harming the crypto market through its decision to delist Wrapped Bitcoin
WBTC
tickers down
$102,599.34
in November.

In a Dec. 13 complaint, BiT Global alleged that Coinbase decided to delist wBTC to promote its own competing Bitcoin-based token, Coinbase BTC (cbBTC).

A day after the lawsuit, Coinbase’s chief legal officer, Paul Grewal, defended the exchange’s approach, emphasizing its commitment to high listing standards.

“When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market requirements without sacrificing those standards, we will list it,”