BiT Global Digital Ltd. dismissed its antitrust and unfair competition lawsuit against Coinbase with prejudice on Friday, after a San Francisco federal court ruling, which denied the issuance of a temporary restraining order to halt the delisting of wBTC from the cryptocurrency exchange, and the judicial warning that followed during oral arguments on a motion to dismiss the case.
Paul Grewal, the chief legal officer for Coinbase, highlighted the news on X following the decision by BiT Global and its counsel, Kevin Kneupper and A. Cyclone Covey, partners at Kneupper & Covey in Huntington Beach, California, who previously expressed their intentions of “pursuing the case through trial.”