FEDERAL JUDGE SAYS COINBASE CAN DELIST WBTC, DENYING JUSTIN SUN-AFFILIATED BIT GLOBAL'S BID FOR A TEMPORARY RESTRAINING ORDER

Summary from the TLDR Crypto newsletter

A federal judge has denied BiT Global's request for a temporary restraining order against Coinbase's planning delisting of Wrapped Bitcoin (WBTC), allowing the exchange to proceed. The ruling comes after BiT Global, which has ties to Justin Sun and recently partnered with former wBTC custodian BitGo, sued Coinbase for alleged unfair competition and reputational damage related to the launch of Coinbase's competing cbBTC token. Coinbase, which maintains it has discretion over its listings and represents less than 1% of wBTC trading activity, has suggested it may seek sanctions against BiT Global and its law firm for filing what it considers a spurious lawsuit.