CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2024-12-14 17:38:35

Paul Grewal Defends Coinbase In $1B Lawsuit Over wBTC Delisting

The post Paul Grewal Defends Coinbase In $1B Lawsuit Over wBTC Delisting appeared first on Coinpedia Fintech News Recently, Bit Global had filed a lawsuit against Coinbase Global Inc claiming that Coinbase unlawfully delisted its WBTC token so it could promote the rival cbBTC. BiT Global had alleged that Coinbase’s decision to delist wBTC was to promote its own competing product, cbBTC, that caused massive financial losses and deteriorated consumer confidence in wBTC. Coinbase is being sued for over $1 billion by BiT Global Digital The lawsuit had also alleged that Coinbase’s listings of meme coins and tokens that have “no inherent value” prove that the exchange delisted WBTC in a bid to have a monopoly over the industry. It also restated that delisting WBTC in place of these memecoins proves that the exchange did not follow any defined listing standards. Paul Grewal Defends A day after the lawsuit, Coinbase’s CLO, Paul Grewal, defended the exchange’s approach, and emphasized its commitment to high listing standards. He reacted to criticism of the exchange’s token listing and delisting practices after the lawsuit accused the company of anticompetitive behavior regarding Wrapped Bitcoin. When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market requirements without sacrificing those standards, we will list it. Thank you Bit Global for the chance to show this to a US federal court and on the entire global… https://t.co/OulfJhhrCd — paulgrewal.eth (@iampaulgrewal) December 13, 2024 “When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market requirements without sacrificing those standards, we will list it,” Grewal stated on X. Justin Sun Criticises Grewal’s X post drew backlash from the community, including from Tron founder Justin Sun, who questioned the company’s transparency. He questioned the co-ordination between Grewal’s statement and earlier remarks by Coinbase CEO Brian Armstrong as Brian had stated that the exchange is “asset agnostic” due to its belief that “consumers should have a choice in the crypto economy.” It seems that Coinbase’s CEO doesn’t agree with your perspective. Who has the final say at Coinbase? pic.twitter.com/sia4TW5SQe — H.E. Justin Sun (@justinsuntron) December 14, 2024 BiT Global claims Coinbase’s actions were designed to steer market dominance toward cbBTC. The exchange had announced the token delisting on Nov. 19, citing undisclosed failures to meet its standards for listing tokens.

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen