Crypto custody platform Bit Global, associated with entrepreneur Justin Sun, has withdrawn its legal challenge against Coinbase.
The case centered on the exchange’s decision to delist Wrapped Bitcoin (WBTC), a token used to represent Bitcoin on Ethereum.
The lawsuit’s dismissal, filed on June 6 in the Northern District of California, officially ends the dispute. By dismissing it with prejudice, Bit Global cannot reopen the case in the future.
Legal Tensions Ease Between Custodians and Exchanges
The dispute highlighted growing friction between token custodians and centralized trading platforms. As the digital asset ecosystem matures, control over token infrastructure is becoming a high-stakes issue.
Bit Global and Coinbase opted to end the matter quietly. Both sides will pay their own legal expenses, and no public details were shared about any settlement. The resolution avoids a prolonged courtroom battle that could have set precedent for how exchanges handle token removals.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bit-global-drops-lawsuit-against-coinbase/