Bit Global has ended its controversy due to Bit Global’s wrapped bitcoin (WBTC) token on the coinbase.
According to a joint court AdmissionBit Global has agreed to dismiss its trial with prejudice against the Crypto Exchange, which means that the case cannot be brought again in the future. The filing notes that both companies will cover their own legal expenses.
Bit Global filed a case in the northern district of California last year, as the coinbase did not say to the token that it was “unacceptable risk” that the token would fall into the hands of Justin Sun. “
Sun became associated with WBTC through a partnership in August last year, inspiring the coinbase to question Bit Global about its role. A Chinese -born Crypto billionaire, Sun, is still supporting the tokens, the World Liberty Financial left its CBBTC for WBTC after joining as an advisor.
The suit alleged that the exchange’s decision was unfair and damaged the liquidity and reputation of the token in favor of the Coinbase’s competitive asset CBBTC. Coinbase launched CBBTC before it was announced that it was removing the WBTC.
The dismissal does not disclose any condition beyond the cost arrangement.
Update (June 7, 2025, 22:30 UTC): Clauses that the filing was not a compromise.
