Judge rules that Coinbase can delist wBTC, rejects Sun Yuchen's BiT Global's application for a temporary restraining order

A California court has ruled that Coinbase can delist wBTC on the first court date of Sun Yuchen's affiliated company BiT Global's lawsuit against the exchange. Coinbase announced last month that it would delist wBTC on December 19. Last week, BiT Global filed a temporary restraining order in an attempt to prevent Coinbase from delisting the token. The company argued that the move would cause imminent and irreparable harm. However, on Wednesday, U.S. District Judge Araceli Martínez-Olguín said there was no reason to prevent Coinbase from delisting the asset, which has undergone a major transformation in recent months. A person familiar with the lawsuit said in an interview: "They are trying to prevent us from proceeding. The court ruled today that none of the factors they raised meet the requirements." (The Block) Earlier, Coinbase (COIN.O) said that Coinbase would delist wBTC because Sun Yuchen would bring "unacceptable risks."