Monitors display Coinbase signage during the company's initial public offering at the Nasdaq MarketSite in New York in 2021. Photo: Michael Nagle/Bloomberg‘BiT Global Lost’: Federal Judge Won’t Stop Coinbase From Delisting wBTC Token
“Ultimately, I have no evidence from you about what is to come,” U.S. District Judge Araceli Martínez-Olguín of the Northern District of California told BiT Global Digital Ltd.'s counsel on Wednesday.
December 18, 2024 at 08:49 PM
3 minute read
What You Need to Know
- On Friday, BiT Global called, in part, for a temporary restraining order against Coinbase delisting wBTC from its exchange.
- Coinbase argued that it moved to delist wBTC from its exchange due to its connection to TRON crypto founder Justin Sun.
- U.S. District Judge Araceli Martínez-Olguín, who presides in the Northern District of California, denied issuing a temporary restraining order to stop the delisting of wBTC from the Coinbase platform.
A federal district court judge in San Francisco delivered bad news to BiT Global Digital Ltd. on Wednesday in its dispute with Coinbase Global Inc.
“BiT Global lost,” Paul Grewal, the chief legal officer for Coinbase, said on X. “Today they asked the Court to order us to stop from delisting wBTC to protect our customers. Today the Court said no. We appreciate the Court’s consideration and the outstanding advocacy of Sonal Mehta and her team at WilmerHale.”
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Related Stories
View AllYou Might Like
View All
Kraken’s Chief Legal Officer Exits, Eyes Role in Trump Administration
3 minute read
Miami Judge Approves Shaq's $11 Million Settlement to Resolve Astrals Investor Claims
3 minute read
Crypto Exchange’s ‘Meteoric Rise’ Leads to Nationwide Class Action Trend
4 minute read
SEC Ordered to Explain ‘How and When the Federal Securities Laws Apply to Digital Assets’
5 minute readTrending Stories
- 1South Florida Attorney Charged With Aggravated Battery After Incident in Prime Rib Line
- 2'A Death Sentence for TikTok'?: Litigators and Experts Weigh Impact of Potential Ban on Creators and Data Privacy
- 3Bribery Case Against Former Lt. Gov. Brian Benjamin Is Dropped
- 4‘Extremely Disturbing’: AI Firms Face Class Action by ‘Taskers’ Exposed to Traumatic Content
- 5State Appeals Court Revives BraunHagey Lawsuit Alleging $4.2M Unlawful Wire to China
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
