TechFlow news, January 23 — According to Cointelegraph, on January 21 Coinbase filed a motion with the U.S. District Court for the Northern District of California seeking to dismiss the lawsuit brought by BiT Global over the delisting of wBTC.
Coinbase stated that BitGo's August 2024 announcement to jointly manage wBTC Bitcoin reserves with BiT Global, affiliated with Justin Sun, constituted an "unacceptable risk," prompting Coinbase to suspend wBTC trading on December 19, 2024.
A hearing on the motion to dismiss is scheduled for April 3. Previously, the court had denied a request to issue an injunction preventing Coinbase from delisting wBTC.
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