Coinbase's decision to delist Wrapped Bitcoin (wBTC) has resulted in a lawsuit filed by BiT Global Digital Limited seeking over $1 billion in damages.
BiT Global claims that Coinbase's actions are anticompetitive and aimed at promoting its own competing product, Coinbase Wrapped BTC (cbBTC).
Coinbase's chief legal officer, Paul Grewal, defended the delisting as a standard procedure for assets that do not meet their criteria.
Despite the delisting, trading of Tether's USDt stablecoin continues on various exchanges in Europe, including Binance, Crypto.com, and Kraken.
The future of stablecoin trading in Europe remains uncertain due to the lack of clarity from regulatory bodies.
In a significant move, Deutsche Bank is developing its own layer-2 (L2) blockchain on Ethereum to address compliance challenges in regulated finance.
This initiative is part of Project Dama 2, a collaborative effort involving 24 financial institutions.
FTX creditors can expect initial repayments in 2025 as a reorganization plan takes effect.
BitGo and Kraken will play a crucial role in facilitating the distribution of funds.
Stablecoin infrastructure company BVNK has raised $50 million in a Series B funding round to expand its operations in the United States and develop a local banking infrastructure.