Aave

Major

DeFi

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/coinbase-implements-wbtc-removal-following-bit-globals-response/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Implements wBTC Removal Following Bit Global’s Response</a> 
Coinbase’s decision to remove the wBTC token from its platform has drawn attention, particularly due to Bit Global’s reaction. Paul Grewal, Coinbase’s Chief Legal Officer, responded to comments made by Justin Sun, the founder of Tron. This development has resonated widely within the <a href="https://en.coin-turk.com/millions-of-dollars-disappeared-with-a-single-news/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/analyst-predicts-significant-altcoin-rally/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market.
<h2 id="coinbase-clo-emphasizes-listing-standards">Coinbase CLO Emphasizes Listing Standards</h2>
Grewal highlighted the importance of maintaining Coinbase’s listing standards. In a statement on social media, he noted, “When an asset no longer meets our listing standards, we will remove it.” This approach aims to reinforce the platform’s reliability.
In response to wBTC’s removal, Bit Global filed a lawsuit against Coinbase. As a significant player supporting the Tron ecosystem, Bit Global opposed this decision. Grewal commented, “We expect this case to be evaluated in a U.S. federal court.”
<h2 id="wbtc-prices-experience-increase">wBTC Prices Experience Increase</h2>
After the delisting announcement, wBTC saw a price increase of over 1%. The token reached levels of $101,152 with a trading volume of $353 million. The price movement reflects market participants’ attitudes toward the decision.
Grewal stated that Coinbase’s listing decisions are based on security and legal compliance. There is speculation that the ecosystem share held by Bit Global could influence this decision.
Critics expressed concerns regarding BitGo’s new custody structure. Major DeFi platforms like MakerDAO and Aave have approached this partnership with caution, while wBTC continues to remain on their platforms.
Justin Sun emphasized the importance of asset listings in every legal environment, sharing previous statements from Coinbase CEO Brian Armstrong. In response to Sun’s remarks, Grewal indicated that they anticipate receiving Sun’s testimony.
The current situation highlights the challenges <a href="https://en.coin-turk.com/ftx-exchange-will-it-be-revived/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a> face in balancing innovation with stringent oversight. Coinbase’s move is viewed as part of its strategy to focus on secure and compliant assets.
The post <a href="https://en.coin-turk.com/coinbase-implements-wbtc-removal-following-bit-globals-response/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Implements wBTC Removal Following Bit Global’s Response</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Coinbase Implements wBTC Removal Following Bit Global’s Response

Table of Contents

COINTURK NEWS

Other articles published on Dec 14, 2024

Kraken Layer 2 Ink Reveals Mainnet Launch Is Coming Soon

Blockchain Unleashed: Explore NOW Chain’s Mainnet With mobiNODE Available NOW!

Get Ready for the 2025 Crypto Boom: Your Complete Bull Run Guide!

How to Trade Forex for Beginners: A Step-by-Step Guide

Best Altcoins to Buy Today – Qubetics’ Multichain Wallet, Cosmos’ Network Expansion, and Zignaly’...

Best Cryptos to Invest in for Long Term: Qubetics Presale Attracts Investors, as Solana and Stack...

Join our free newsletter for daily crypto updates!