Coinbase Delists Wrapped Bitcoin wBTC, Citing 'Listing Concerns'

[Charles-Tim]

That said, considering they now have their own version, it would not be an insane conclusion if you think they're kicking out the competition, it's the "smart" thing to do.

If it is because of competition that Coinbase did what they did to wBTC, it is not a smart move in my opinion. It shows partiality and biasness. Also wBTC will likely not be affected because there are many other exchanges with higher wBTC volume that the token is listed.

[Faisal2202]

What do you think about this delisting? Does Coinbase really concerned about BitGo partnership with Bit Global or actually wants to kick competitor? Your opinion is greatly appreciated.

They wants to introduce their own wrapped BTC so that's why they are delisting it and I don't think it have to do something with the current developments of the company own WBTC made wiht Justin. Because actions like these are solely based on unbaised analysis and needs.

Instead this will open more business for the BTC as both companies (coinbase too) will buy BTC and use them to issue Wrapped BTC so that holding will increase the deamdn and the price and overall it's a bullish news.

[Zed0X]

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Coinbase itself doesn't explicitly mention the reason. But on the news, these are paragraph mention the possible reason.

Recently wBTC has come under a considerable amount of scrutiny after BitGo announced it was entering into a joint venture with BiT Global, a custodian partially owned by Justin Sun.

I had to double check if Coinbase really rejects products that's somehow related to Justin Sun. It seems to be the case because TRX is also not tradable there. I can also understand the allegations of beating competitions because of the timing but it could be just a coincidence.

[Z-tight]

For a while now, certainly in the last 3-4 months I've come across articles online mentioning some concerns with wrapped tokens in general, and I still can't speak to the validity of those claims, I just thought it was something to keep in mind.

You would have done well to tell us the concerns you have been reading about, or maybe post the links where you read them. Take note that wrapped BTC's are not real BTC, if that is what you are talking about, wrapped BTC is an altcoin, so if you must use them, you should at least be aware of that.

[Stompix]

Well, you just got another taste of what Coinbase does best!
Now since Brian had a phone talk with Trump about the crypto industry I'm eagerly awaiting to see the reaction when they decide to replace Bitcoin with a creation of their own, we're seeing the whole decentralization dream going in fire and pieces and some still clap because the price went up 50 cents