Token

Wrapped Bitcoin

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-removes-wbtc-token-from-platform" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Removes wBTC Token from Platform</a><br></p>
<p style="text-align: justify">Coinbase’s recent move to eliminate the Wrapped <a href="https://en.bitcoinhaber.net/bitcoin-faces-early-week-price-swings" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (wBTC) <a href="https://en.bitcoinhaber.net/pepe-coin-draws-market-spotlight-with-notable-value-jump" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> has sparked considerable interest, particularly following a strong reaction from Bit Global. Paul Grewal, the Chief Legal Officer of Coinbase, addressed remarks made by Justin Sun, the founder of <a href="https://en.bitcoinhaber.net/tron-sees-dramatic-surge-in-transfer-volume" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tron</a>, highlighting the implications of this decision within the cryptocurrency industry.</p>
<h2 id="what-are-coinbase-s-listing-standards">What Are Coinbase’s Listing Standards?</h2>
<p style="text-align: justify">Grewal underscored the necessity of upholding the listing standards of Coinbase. He stated that assets failing to meet these criteria will be removed from the platform, reinforcing the commitment to reliability and security.</p>
<h2 id="how-did-bit-global-respond-to-wbtc-s-removal">How Did Bit Global Respond to wBTC’s Removal?</h2>
<p style="text-align: justify">In retaliation to the delisting, Bit Global has initiated legal proceedings against Coinbase, positioning itself as a key supporter of the Tron ecosystem. Grewal remarked that they expect this legal matter to be handled in a federal U.S. court.</p>
<p style="text-align: justify">The announcement resulted in a price increase for wBTC, which surged by over 1%, reaching approximately $101,152 with a trading volume of $353 million. This price fluctuation indicates market participants’ reactions to Coinbase’s decision.</p>
<ul>
 <li>Coinbase prioritizes security and legal compliance in its listing process.</li>
 <li>Bit Global’s influence in the Tron ecosystem may play a role in the outcome of this decision.</li>
 <li>Concerns about BitGo’s custody structure persist among critics.</li>
 <li>Notable DeFi platforms, such as MakerDAO and Aave, are remaining cautious about wBTC.</li>
</ul>
<p style="text-align: justify">The developments illustrate the intricate balance that cryptocurrency exchanges must maintain between innovative offerings and regulatory compliance. Coinbase’s actions appear to align with its ongoing strategy to prioritize secure and compliant assets.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/coinbase-removes-wbtc-token-from-platform" data-wpel-link="internal" rel="noopener noreferrer nofollow">Coinbase Removes wBTC Token from Platform</a></h5>

Coinbase Removes wBTC Token from Platform

Table of Contents

BH NEWS

Other articles published on Dec 14, 2024

Binance Labs Recent Investment: What is Astherus?

What to Note As Coinbase Prepares To Delist Non-MiCA Compliant Stablecoins

Prepare for the Bull Run of 2025 With These 3 High-Potential Cryptos

China’s stubborn deflation really is a global economic problem

Shiba Inu Price Prediction: SHIB to Hit $1 in the Next 30 Days?

Lightchain AI Price Prediction for 2030 & 2040 Will RXS Stand the Test of Time?

Join our free newsletter for daily crypto updates!