Coinbase has suspended wBTC trading, WBTC team issued response

PANews reported on December 20 that according to Coinbase’s announcement, it will suspend trading of wBTC (Wrapped Bitcoin) at around noon Eastern Time on December 19, 2024, including Coinbase.com, Coinbase Exchange and Coinbase Prime platforms. Users’ wBTC funds can still be withdrawn at any time.

In this regard, the WBTC team expressed regret and surprise, saying that it has been committed to providing compliant, transparent and decentralized Bitcoin tokenization products. The team emphasized that WBTC has a leading position in transparency and decentralization and is deeply integrated with multiple DeFi protocols to make important contributions to the development of the ecosystem. At the same time, the team called on Coinbase to reconsider the decision and promised to provide more information to address any concerns.