Coinbase Chief Legal Officer Paul Grewal has defended the exchange’s decision to list Wrapped Bitcoin (WBTC), following a lawsuit that challenges the delisting of the asset. Speaking on Nov. 21, Grewal asserted that Coinbase’s listing practices adhere to strict due diligence processes and regulatory standards. The lawsuit, filed by an institutional investor, accuses the platform of removing WBTC prematurely, causing financial losses.

WBTC, a tokenized version of Bitcoin on the Ethereum network, was delisted by Coinbase earlier this year amid declining demand and liquidity concerns. The plaintiff argues that the delisting was abrupt and lacked sufficient communication, resulting in adverse financial impacts for traders and institutions using WBTC. Grewal countered these claims, stating that delisting decisions are made in the best interest of platform integrity and user safety.

The case sheds light on the growing legal complexities surrounding asset listings and delistings in the cryptocurrency industry. Exchanges like Coinbase face increasing scrutiny over how they select and manage digital assets, especially as regulatory frameworks evolve. Grewal emphasized that Coinbase remains committed to transparency and compliance while balancing the dynamic nature of the crypto market.

This legal challenge comes as the cryptocurrency sector grapples with heightened regulatory oversight and market volatility. Analysts suggest that the outcome of the lawsuit could set a precedent for how exchanges handle delistings and communicate with stakeholders. Coinbase’s defense highlights the challenges of operating in a rapidly changing industry where legal and market expectations continue to converge.

The number of small Bitcoin wallets, commonly referred to as “shrimp” wallets, has seen a significant increase in recent weeks, according to data shared by prominent crypto analysts on Nov. 21. These wallets, which hold less than 1 BTC, indicate growing participation from retail investors in the cryptocurrency market. Analysts attribute the rise to renewed bullish sentiment as Bitcoin’s price approaches $40,000.

Shrimp wallets are often considered a barometer for retail interest in Bitcoin, and their growth suggests that smaller investors are entering the market or increasing their holdings. Crypto experts have noted a similar trend during previous bull runs, with smaller wallets playing a key role in driving demand. This accumulation is seen as a sign of confidence in Bitcoin’s long-term value proposition, particularly amid broader macroeconomic uncertainty.

Market analysts believe the increase in retail participation could contribute to short-term price stability, as smaller holders are less likely to engage in significant sell-offs. Additionally, the trend aligns with Bitcoin’s broader narrative as a decentralized asset accessible to everyone, regardless of investment size. “Shrimps accumulating Bitcoin is a positive signal that retail interest is alive and well,” one analyst remarked.

The surge in shrimp wallets comes as Bitcoin continues to recover from its bear market lows, fueled by rising institutional interest and regulatory clarity in key markets. With smaller investors reinforcing the base of Bitcoin’s user network, the cryptocurrency appears well-positioned for sustained growth in the coming months. However, analysts caution that market volatility remains a factor to watch closely.

European investment platform Bitpanda has received regulatory approval from the Virtual Assets Regulatory Authority (VARA) in Dubai, paving the way for its expansion in the United Arab Emirates (UAE). Announced on Nov. 21, the license allows Bitpanda to provide its full suite of digital asset services to retail and institutional clients in the region. This move marks a significant milestone in Bitpanda’s strategy to grow its presence in the Middle East.

VARA’s approval enables Bitpanda to offer services such as cryptocurrency trading, custody, and digital asset management under Dubai’s robust regulatory framework. The company’s entry into the UAE aligns with Dubai’s vision to become a global hub for blockchain and digital assets, supported by clear regulations that attract international firms. Bitpanda plans to establish a strong local presence by collaborating with UAE-based partners and institutions.

Bitpanda CEO Eric Demuth highlighted the UAE’s forward-thinking approach to digital asset regulation, calling it a key factor in the company’s decision to expand in the region. “Dubai has set a global benchmark for fostering innovation in the crypto space while ensuring investor protection. We are excited to bring our trusted platform to this dynamic market,” Demuth stated.

The approval reflects the UAE’s commitment to attracting leading players in the cryptocurrency and fintech sectors. Analysts believe Bitpanda’s entry will enhance competition and drive innovation in the local market. As the Middle East continues to embrace digital transformation, Bitpanda’s presence is expected to boost adoption and further solidify Dubai’s position as a global leader in the digital asset economy.