Coinbase announces suspension of wBTC trading

BlockBeats News: On December 20th, Coinbase announced that it has suspended wBTC trading. The wBTC trading on Coinbase Exchange and Coinbase Prime has been suspended, and users can still withdraw funds at any time. BlockBeats previously reported: On December 19th, US federal judge Araceli Mart í nez Olga í n ruled to reject Hong Kong company BiT Global's request for a temporary restraining order, allowing Coinbase to continue planning to delist Wrapped Bitcoin (WBTC) from its platform. The judge believes that BiT Global has failed to prove that Coinbase's move will cause "urgent and irreparable damage" to it. On October 10th, WBTC completed the transition to a geographically distributed hosting structure. According to the cooperation agreement between BitGo and BiT Global, control of the underlying Bitcoin will now be shared among Singapore, Hong Kong, and the United States. The new custody structure uses a multi signature agreement, requiring two signatures to approve any transaction and transfer funds from the wallet.