Bit Global Digital Sues Coinbase Over $1 Billion Loss from WBTC Delisting

Bit Global Digital Takes Legal Action Against Coinbase Over WBTC Delisting

In a significant legal move, Bit Global Digital has filed a lawsuit against the cryptocurrency exchange giant Coinbase. The suit alleges that Coinbase's decision to delist Wrapped Bitcoin (WBTC) was an attempt to monopolize the market and promote its own competing token, cbBTC. According to Bitcoinist, this action by Coinbase resulted in approximately $1 billion in losses for Bit Global Digital due to diminished consumer confidence and financial setbacks.

The complaint, lodged at the US District Court in Northern California, accuses Coinbase of unfair competition practices including attempted monopolization and trade libel. It claims that two months after launching cbBTC on Ethereum, Base, and Solana platforms, Coinbase announced it would suspend trading of WBTC without providing any substantial reasoning or opportunity for appeal from Bit Global Digital.

Uniswap Faces Market Challenges Amidst Whale Accumulation

Cointribune EN reports that Uniswap is experiencing increased interest from crypto whales who have accumulated over 1.68 million UNI tokens within just one week. This accumulation comes despite Uniswap lagging behind other cryptocurrencies with only modest gains during recent bullish trends.

The report highlights Galaxy Digital as one major player withdrawing large amounts of UNI from exchanges while technical indicators suggest potential positive momentum ahead. However, selling pressures remain high which could limit further price increases unless current buying trends continue strongly enough to reach new highs like $27 per unit based on Fibonacci ratios analysis.

Bitvavo Dominates EUR Spot Exchange Markets Globally Once Again

CryptoSlate's latest insights reveal Amsterdam-based crypto platform Bitvavo solidifying its position once more as the leading European spot exchange globally, capturing nearly half of total euro-denominated trades worldwide according to Kaiko’s newly published data covering the first eleven months. Year-end projections show impressive growth and demand across the continent throughout the 2024 period alone!

This achievement underscores their strategic commitment to offering a broad selection of digital assets and competitive fees, attracting both retail and institutional users alike amidst improving regulatory clarity in the EU region. This boost in investor confidence significantly contributes to overall surge volumes exceeding €50 billion in November compared to the previous month's figures, doubling the BTC-EUR pair share in global fiat volume. This reflects increasing adoption rates among traditional finance sectors alongside the burgeoning popularity of decentralized technologies, driving innovation forward faster than ever before.

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