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Title: Coinbase Fights Back Against BitGo’s Effort to Block WBTC Delisting
In a shocking turn of events, Coinbase has announced its opposition to BitGo’s bid to have Wrapped Bitcoin (WBTC) delisted from the exchange. The move comes as a surprise, given that Coinbase is one of the largest and most prominent cryptocurrency exchanges in the world.
According to sources close to the matter, Coinbase is unwilling to comply with BitGo’s request, citing concerns over market disruption and user inconvenience. This decision has sparked heated debates within the crypto community, with many users taking to social media to express their support for Coinbase’s stance.
The controversy began when BitGo announced its intention to delist WBTC due to allegedly “inadequate security measures” in place by the Wrapped Bitcoin team. BitGo claimed that these shortcomings posed significant risks to its own business and those of its clients.
However, many have criticized BitGo’s decision, arguing that it is an overreach on their part, as WBTC remains a widely supported and established token within the crypto ecosystem.
In response, Coinbase has stated publicly that it will not comply with BitGo’s request to delist WBTC. This move has sent shockwaves throughout the industry, as many users are questioning the implications of this decision on the broader market.
As an update on this ongoing situation, we can confirm that Satoshi Action Fund reveals potential executive order draft to establish US Bitcoin Strategic Reserve.
Source: cryptoslate.com
