BiT Global Withdraws Lawsuit Against Coinbase Over WBTC Delisting

BiT Global has officially dropped its lawsuit against Coinbase concerning the delisting of Wrapped Bitcoin (WBTC). The joint dismissal, filed with prejudice on June 6, 2025, marks the permanent closure of the case, barring any future legal actions on the issue. Both parties have agreed to cover their own legal expenses, with no settlement terms disclosed. Coinbase initially removed WBTC from its platform last year, citing governance concerns as the primary reason. This development highlights the evolving regulatory and governance landscape within the cryptocurrency industry, particularly concerning wrapped tokens and their compliance with exchange standards. The resolution of this dispute may set a precedent for how similar cases are handled in the future, emphasizing the importance of clear governance frameworks for digital assets.

BiT Global Drops Lawsuit Against Coinbase Over Wrapped Bitcoin Delisting

BiT Global has formally withdrawn its lawsuit against Coinbase regarding the delisting of Wrapped Bitcoin (WBTC). The dismissal, filed jointly and with prejudice on June 6, permanently closes the case and prevents any future legal action on the matter. Both parties agreed to bear their own legal costs, with no disclosed settlement terms.

Coinbase removed WBTC from its platform last year, citing governance concerns and shifting risk factors after BiT Global altered its custody arrangements. The exchange maintained the delisting was a standard risk management measure. BiT Global had alleged Coinbase favored its own CBBTC token, but the case was dropped before a final ruling as legal momentum favored Coinbase.

Congressman Timmons Presses SEC to Reveal Hidden Ethereum Documents

U.S. Representative William Timmons has demanded transparency from the Securities and Exchange Commission regarding its shifting stance on Ethereum''s regulatory status. The South Carolina lawmaker sent a letter to SEC Chair Paul Atkins, criticizing the agency''s inconsistent messaging and requesting internal documents related to ETH''s classification.

The requested materials include emails discussing Ethereum''s security status, records of the ETH 2.0 investigation, and files titled "ETH – Security or Not." These documents emerged during Coinbase''s lawsuit but remain undisclosed to the public.

Market participants recall SEC official William Hinman''s 2018 statement excluding Ether and bitcoin from security classification. However, the current administration''s ambiguous position under Chair Gary Gensler has reignited regulatory uncertainty.