TechFlow news — On November 20, Coinbase announced it will suspend all trading services for wBTC (Wrapped Bitcoin) around 12:00 PM Eastern Time on December 19, including trading modes such as Simple, Advanced Trade, Coinbase Exchange, and Coinbase Prime. However, users will still be able to freely withdraw their wBTC assets. This decision follows Coinbase's latest asset review.
In response, the wBTC team issued a statement expressing regret and surprise at the decision. The team emphasized that wBTC is the most decentralized and transparent tokenized BTC product on the market, maintaining the highest standards in custody processes, on-chain verifiability, and compliance through innovative mechanisms and rigorous governance. The team stated it has been actively communicating and collaborating with various parties, including Coinbase, to ensure the product meets all compliance requirements. The wBTC team calls on Coinbase to reconsider this decision and remains willing to provide further information to address any potential concerns.
