Coinbase is facing a $1 billion lawsuit from BiT Global Digital Limited, which accuses the exchange of harming the wrapped Bitcoin (wBTC) market by delisting the token to promote its own product, cbBTC. The lawsuit alleges attempted monopolization and predatory practices under the Sherman Act, claiming that Coinbase's actions led to significant financial losses and undermined consumer confidence in wBTC. BiT Global's attorneys argue that such moves by a major exchange set a dangerous precedent for the cryptocurrency industry.
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