Coinbase has exited a billion-dollar legal confrontation after Bit Global unexpectedly withdrew its lawsuit concerning the delisting of wrapped bitcoin (WBTC). The case has now been dismissed with prejudice, making it impossible for Bit Global to bring back the same claims.
The lawsuit, filed in early 2025, accused Coinbase of anti-competitive conduct. Bit Global claimed the exchange delisted WBTC to direct liquidity to its newly launched token, cbBTC.
Users were unhappy that Coinbase removed WBTC not long after it began offering cbBTC. According to Bit Global, this was arranged on purpose to prevent rivals from competing.
On Friday, both companies presented a single filing to the U.S. District Court for the Northern District of California. The court made it clear in the document that both sides would be responsible for their legal charges.
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No Settlement or Compensation as Legal Standoff Ends Quietly
There was no mention of a financial agreement in the court papers, and the mutual decision to close the case points to a quiet resolution rather than a courtroom battle.
Throughout the argument, Coinbase maintained its internal guidelines for its token. The exchange argued that WBTC was removed as part of normal procedure relating to compliance and auditing.
Bit Global, on the other hand, pointed out that the timing was very near when cbBTC was introduced. As a result, WBTC encountered problems on the market and had fewer options available for users.
Judge Araceli Martinez-Olguín was in charge of the case and allowed the dismissal. When a case is decided under the “with prejudice” section, it is not open to appeal.
Due to Coinbase’s cancellation of WBTC support, there is no longer any legal pressure directed at them. The lawsuit ending this way clears away all questions and issues related to the topic.
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