Coinbase to delist WBTC months after Justin Sun controversy
Coinbase has announced that it intends to delist Wrapped Bitcoin (wBTC), claiming that as of its “most recent review,” it no longer meets the listing requirements for the exchange. This will go into effect on December 19. This comes after Coinbase launched its own competitor to this token, Coinbase Wrapped Bitcoin (cbBTC), a token that has drawn the ire of Justin Sun, who is now involved in the custody of WBTC. Justin Sun and WBTC The tokenized bitcoin space has seen great upheaval since August when BitGo announced that it was forming a new joint venture with Justin Sun and BiT Global to manage the custody of WBTC . How involved is Justin Sun with WBTC’s new custodian BiT Global? Read more: CHART: The growth of WBTC competitors Sun’s involvement has provoked a great deal of consternation across the industry and led Coinbase and Kraken to launch tokenized competitors. It has also prompted an ill-fated proposal from Threshold Network to acquire...