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Coinbase legal chief addresses $1B lawsuit tied to wBTC delisting

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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.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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