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 Users' wBTC funds can still be withdrawn at any time.

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