The crisis in the altcoin that had a big problem with Coinbase has been resolved: They reached an agreement!

The legal dispute between Coinbase and BiT Global, due to the delisting of BiT Global's Wrapped Bitcoin (wBTC) token from the Coinbase platform, has been resolved through a settlement between the parties.

BiT Global has "definitively" withdrawn the lawsuit it filed in the Northern District Court of California. This means that the case cannot be reopened. According to the agreement, both parties will bear their own legal costs.

Bit Global claimed in the lawsuit it filed last year that Coinbase delisted wBTC without justification, which harmed the liquidity and reputation of the token. The company alleged that Coinbase aimed to promote its own competing product, cbBTC, with this decision.

Coinbase defended its delist decision by stating that the token poses an "unacceptable risk" and there are concerns that "it could fall into the hands of Justin Sun." The China-born crypto billionaire Justin Sun became associated with wBTC through a partnership he established with BiT Global last August. Following this development, Coinbase began to question Sun's role in the project.

Interestingly, after Sun joined the project as an advisor, World Liberty Financial had dropped cbBTC and started to support wBTC again.

However, no additional details regarding the content of the agreement were included in the case file. The parties only agreed that they would cover their own legal expenses.

*This is not investment advice.

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