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**Coinbase Fights Back Against BiT Global’s Effort to Block WBTC Delisting**
In a shocking turn of events, it has been revealed that Coinbase, a leading digital currency exchange and wallet service, is taking a stand against BiT Global’s attempt to block the delisting of Wrapped Bitcoin (WBTC). This move comes as a surprise, as it appears that there may be more to this story than initially thought.
For those who are unfamiliar with WBTC, it is an ERC-20 token that represents the value of Bitcoin. It has gained significant traction in recent times due to its ability to provide the power of Bitcoin while also utilizing the flexibility of the Ethereum blockchain. With a market capitalization of over $10 billion and 24-hour trading volume of $161.79 million, it’s no wonder that investors are taking notice.
According to sources close to the matter, BiT Global has been attempting to block WBTC’s delisting from various exchanges. Coinbase, in response, has announced its opposition to this move, citing concerns over the potential impact on the broader cryptocurrency market and the rights of users.
This development comes as a major upset to the cryptosphere, as it seems that BiT Global may have been seeking to restrict access to WBTC for various reasons. It is unclear at this point what these reasons may be or whether there are any other factors at play.
Source: cryptoslate.com
