BiT Global Drops Lawsuit Against Coinbase Over wBTC Delisting

BiT Global has officially ended its legal battle with Coinbase regarding the delisting of its wrapped bitcoin (wBTC) token. According to a joint court filing, BiT Global has agreed to dismiss the lawsuit with prejudice, meaning it cannot refile the case in the future. Each party will cover its own legal costs, and no additional terms have been disclosed.

The lawsuit, filed in the Northern District of California, stemmed from Coinbase’s decision to remove wBTC, citing concerns that the token could end up under the control of Justin Sun. Sun, a prominent Chinese-born crypto entrepreneur, became affiliated with wBTC in August 2024 through a strategic partnership. His involvement prompted Coinbase to reassess the token’s risk profile.

BiT Global claimed that the delisting was unjustified and damaged wBTC’s liquidity and market perception, especially since Coinbase had introduced its own competing asset, cbBTC, just two months earlier. The exchange’s move raised questions about potential conflicts of interest, as cbBTC quickly gained support while wBTC was sidelined.

Sun has publicly supported wBTC, and World Liberty Financial even dropped its cbBTC initiative in favor of wBTC after appointing him as an advisor. Despite this support, Coinbase maintained that the decision was based solely on security concerns.

The legal dispute has now come to a close without a formal settlement, and both companies appear to be moving forward independently. While the filing does not provide further details, the dismissal signals an end to the public feud between the crypto exchange and BiT Global.

The case highlights ongoing tensions in the digital asset space, where protocol governance, token security, and competitive dynamics continue to fuel legal and regulatory scrutiny. As the market matures, such high-profile disputes could shape future listing standards across major crypto platforms.