BiT Global has put an end to its legal battle with Coinbase regarding the removal of its wrapped bitcoin token, WBTC, from the exchange. A recent joint court filing reveals that BiT Global has agreed to drop the lawsuit, with prejudice, meaning it cannot be reopened in the future. Both companies will bear their own legal expenses.
The dispute began when Coinbase delisted WBTC, citing 'unacceptable risk' due to its potential connection to Justin Sun, a prominent crypto figure. BiT Global argued that the delisting was unwarranted and damaged the token's reputation and liquidity, while favoring Coinbase's own asset, cbBTC. The terms of the dismissal are limited to the cost arrangement, with no further details disclosed.
An update to the original filing clarifies that the agreement is not a settlement.