Coinbase to delist wBTC as Justin Sun gains influence over protocol, launches its own wrapped bitcoin token

The exchange said it will delist the token in December, though users will still be able to move the wBTC off the exchange.In August long-time custodian BitGo announced it was ceding partial control over the wBTC protocol in a “strategic partnership” with Justin Sun and the TRON ecosystem. Coinbase’s version of wrapped bitcoin, cbBTC, has seen its market cap grow to nearly $1.5 billion in a matter of months.