Coinbase, WBTC, and a Lawsuit Over Fair Play

An intriguing story is unfolding around Coinbase and the WBTC token.

BiT Global Digital has filed a lawsuit against Coinbase, accusing the exchange of violating anti-monopoly and unfair competition laws. The reason is Coinbase’s delisting of WBTC. The plaintiff argues that by removing WBTC, Coinbase gives an unjust competitive advantage to its own token, cbBTC.

This framing made me think. I recall governments stepping in and forcing exchanges to delist certain tokens - like privacy coins or “unregulated stablecoins.” But a court mandating an exchange to list a specific asset? That’s new.

The closest parallel might be El Salvador’s “Bitcoin Law,” which requires the state to offer instant BTC-to-USD conversion. But even there, the obligation lies with the government, not a private company.

Or maybe Coinbase listed WBTC for a fee and then backed out of its obligations? But no - based on available information, the lawsuit isn’t about any contractual breach with the token issuer.

It seems BiT Global just wants WBTC to be tradable on Coinbase. But why? Isn’t it easier to swap WBTC on rabbit.io - with good rates and no registration?