Crypto Analyst

2024/12/21 05:20

Coinbase Disables wBTC Trading After Landmark Vict

Coinbase Disables wBTC Trading After Landmark Victory

In its last attempt to discontinue business with BiT Global, Coinbase Exchange has completely disabled trading for wBTC

Coinbase said it will stop trading support for wBTC

This decision comes after a controversial but brief legal battle with BiT Global

The trading platform is still under scrutiny for its vague listing standards

American crypto trading platform Coinbase Global Inc. has announced it has disabled trading for Wrapped Bitcoin (wBTC). The top crypto exchange noted that despite this move, the product will still become accessible to users. The essence of this accessibility is that token holders can withdraw their funds at any time.

Coinbase To End the wBTC Era

As part of the announcement, Coinbase said it regularly monitors the assets on its exchange to ensure they meet its listing standards. The Brian Armstrong-led firm said it chose to delist wBTC based on its most recent review. The wBTC trading removal became effective from 12 pm ET.

The exchange said it suspended the wrapped Bitcoin token on its main platform Coinbase.com including the simple and advanced trading interfaces. It revealed that it took down trading support for the token on Coinbase Exchange and Coinbase Prime as well.

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