Coinbase sued by BiT for delisting wBTC, launching competitor, The Block reports

Justin Sun’s BiT Global, which recently became a key stakeholder in the wrapped bitcoin ecosystem, is suing Coinbase (COIN) for planning to delist the asset after launching rival cbBTC, The Block’s Daniel Kuhn reports. BiT Global claims Coinbase’s decision to proceed with the wBTC delisting is anti-competitive and violates “numerous state and federal laws” and believes the delisting will also “damage” BiT Global.