A federal judge denied BiT Global’s request for a temporary restraining order Wednesday, finding that the Hong Kong-based firm failed to show an imminent and irreparable harm that would come from Coinbase’s plans to soon delist WBTC, or Wrapped Bitcoin.
“Ultimately, I have no evidence from you about what is to come,” U.S. District Judge Araceli Martínez-Olguín told BiT Global’s attorney. “I will not stop Coinbase from delisting WBTC.”
BiT Global sued Coinbase last week, alleging the exchange’s plans to delist WBTC Thursday, while promoting its own version of wrapped Bitcoin, amounted to unfair business practices. As a custodian for WBTC reserves alongside BitGo, BiT Global sought a judgement prohibiting Coinbase from delisting the $14 billion product from its exchange.
Responding to BiT Global’s lawsuit earlier this week, Coinbase said its decision to delist WBTC was motivat
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Author: André Beganski
