BiT Global, associated with crypto founder Justin Sun, and Coinbase have mutually agreed to dismiss a lawsuit concerning Coinbase's delisting of Wrapped Bitcoin (WBTC). BiT Global filed the lawsuit after Coinbase announced in December 2023 that it would no longer list WBTC due to its concerns about the token's stability, particularly due to BiT Global's involvement. Coinbase stated that their decision was driven by a commitment to safeguarding customers against potential risks. Following the delisting, Coinbase launched its own wrapped Bitcoin product, cbBTC, which has gained significant market share. The lawsuit was dismissed without prejudice, meaning it cannot be litigated again, and both parties will bear their own legal costs. Coinbases's Chief Legal Officer reaffirmed the company's position, stating they will not list assets that jeopardize customer safety. The dismissal comes amid tensions in the crypto market regarding governance and control of wrapped tokens. WBTC remains a leading wrapped Bitcoin, representing a substantial market value.

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