Bitcoin24h $97,152.78-0.90%

Ethereum24h $3,384.81-1.62%

XRP24h $2.27-1.22%

BNB24h $666.10-1.50%

Solana24h $186.06-3.61%

Dogecoin24h $0.3208-4.23%

Cardano24h $0.9118-5.04%

TRON24h $0.2484-1.08%

Avalanche24h $38.03-5.88%

Chainlink24h $22.57-5.08%

Coinbase to delist WBTC months after Justin Sun controversy

Coinbase has announced that it intends to delist Wrapped Bitcoin (WBTC) from December 19 because it no longer meets the listing requirements.

CHART: The growth of WBTC competitors

Since WBTC announced that Justin Sun would be involved in custody, several competitors have launched or taken advantage of the opportunity.

WBTC announced it will transition the custody of bitcoin for the token from BitGo to a joint venture between BitGo, BiT Global, and Sun.

Justin Sun’s deal to become involved with BitGo and wrapped bitcoin (WBTC) has drawn more attention to his own exchanges.

Coinbase’s new wrapped bitcoin product, cbBTC, has attracted criticism from Justin Sun, despite similar problems for his product.