Coinbase legal responds to BiT Global’s attempt to block wBTC delisting, declares lawsuit baseless and seeks denial of TRO.

Coinbase is opposing an emergency court bid by BiT Global to stop Coinbase from delisting Wrapped Bitcoin (WBTC), arguing the lawsuit is meritless and that the court should deny a temporary restraining order (TRO). The dispute centers on Coinbase’s decision to remove WBTC trading shortly after launching its own wrapped bitcoin product, cbBTC, and BiT Global’s claim that this is unfair, anti‑competitive conduct. BiT Global Digital Limited, a Hong Kong-based firm linked to TRON founder Justin Sun, sued Coinbase in the U.S. District Court for the Northern District of California in December, alleging that Coinbase’s November 19 WBTC delisting effectively pushed users toward cbBTC and deprived the market of the ability to trade WBTC. BiT Global framed the move as predatory and sought significant damages, including punitive damages tied to what it claims is over $1 billion in lost aggregate value of WBTC, as well as disgorgement of Coinbase’s revenues from the conduct. In addition to monetary relief, BiT Global asked the court for emergency injunctive relief (a TRO) to halt or reverse the delisting. In its response, outlined publicly by Chief Legal Officer Paul Grewal, Coinbase characterizes BiT Global’s claims as “bogus” and the lawsuit as baseless, arguing the exchange has the legal right to make independent listing and delisting decisions to protect its customers and platform integrity. Coinbase’s filing contends that BiT Global has not clearly disclosed its ownership structure or adequately addressed concerns about Justin Sun’s involvement, which Coinbase says raises risk issues. The exchange also notes that WBTC accounts for less than 1% of its trading volume and that BiT Global waited nearly a month before seeking a TRO, undermining any assertion of urgent, irreparable harm. Coinbase further argues that any reputational harm to WBTC is attributable to its association with Sun rather than Coinbase’s listing choices, and it urges the court to deny BiT Global’s request for emergency relief. "entities":["Coinbase","Coinbase Global Inc.","Paul Grewal","BiT Global Digital Limited","BiT Global","Wrapped Bitcoin (WBTC)","cbBTC","Justin Sun","TRON","U.S. District Court for the Northern District of California","BitGo"]}`

✨ AI-generated background, compiled from web sources — not editorial content.

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