Coinbase Faces $1 Billion Lawsuit Over wBTC Delisting
According to Cointelegraph, Coinbase is embroiled in a legal battle with BiT Global Digital Limited over the delisting of Wrapped Bitcoin (wBTC). The lawsuit accuses Coinbase of unfair practices aimed at promoting its own product, cbBTC. Filed on December 13th by law firm Kneupper & Covey in California, the complaint alleges that this move has led to significant financial losses and damaged consumer trust in wBTC. BiT Global claims that Coinbase's actions are an attempt to monopolize the wrapped Bitcoin market under U.S. antitrust laws.
WhiteBIT’s Rapid Expansion: Adding 60 New Collateral Assets
The Crypto Basic reports that WhiteBIT, one of Europe's largest cryptocurrency exchanges, has expanded significantly by adding 60 new collateral assets. This brings their total supported assets to over 80 within just months. Among these additions are popular coins like PEPE and AAVE, which can now be used for borrowing and trading purposes. This expansion aligns with WhiteBIT's strategy to cater to its growing user base while maintaining competitive standing among leading exchanges.
HTX Expands Its Presence at Bitcoin MENA 2024
Morningstar highlights HTX's participation as a sponsor at Bitcoin MENA 2024, held in Abu Dhabi from December 9-10. As part of its global strategy focusing on the Middle East and North Africa region, HTX aims to foster widespread adoption of cryptocurrencies through collaboration with local stakeholders and regulatory bodies. Key figures, such as Justin Sun, emphasized during discussions how technological advancements have bolstered crypto markets, including stablecoins' impact on increasing capital flow into Bitcoin.
Bybit Adjusts EEA Operations Amid Regulatory Compliance Efforts
A report from Crypto Briefing reveals Bybit’s strategic decision to temporarily adjust operations within the European Economic Area (EEA) due to evolving regulations while pursuing a Markets in Crypto-Assets Regulation license in Austria. Co-founder Ben Zhou stated this compliance-first approach ensures alignment with stringent standards, enhancing user protection across Europe despite temporary operational changes affecting communication channels but not existing customer access.
Kraken Closes NFT Marketplace; Users Advised To Transfer NFTs
CNET informs readers about Kraken shutting down its NFT marketplace after two years since launch, citing resource reallocation towards other services amidst rising cryptocurrency prices yet stagnant NFT valuations globally. Users holding non-fungible tokens there are advised to transfer them elsewhere by February next year to avoid losing access, as per company announcements made earlier in November regarding closure plans. This transition to a withdrawal-only mode is currently active, with the process expected to complete early in the upcoming quarter as per the scheduled timeline set by management directives.
Sources:
- Coinbase faces $1B lawsuit over wBTC delisting
- WhiteBIT’s Rapid Expansion: 60 New Collateral Assets Fuel Growth, Total Reaches 80+
- HTX Presents at Bitcoin MENA 2024: Expanding Footprint in the Middle East
- Bybit advances regulatory compliance, temporarily adjusts EEA operations
- Coinbase Hit With Antitrust Suit That Seeks to Change How Crypto Exchanges Operate
- Kraken Axes NFT Marketplace. Here's What to Do if You Have NFTs on This Crypto Exchange
