cryptojournalist
Stay updated on the latest in cryptocurrency, from market trends to regulatory moves. Here’s what happened today in the crypto world:
Coinbase Criticized for Wrapped Bitcoin Delisting
Coinbase faced backlash for its explanation of delisting Wrapped Bitcoin (WBTC). In response to a lawsuit from BiT Global, a Justin Sun-affiliated company, Coinbase cited Sun’s alleged financial misconduct and regulatory investigations as reasons for the delisting.
Critics argue that Coinbase provided insufficient legal or technical justification, with some accusing the exchange of “guilt by association.” Bitcoin enthusiast Pledditor took to social media, calling the move baseless and pointing out that Coinbase itself has faced numerous investigations.
Ohio Proposes State Bitcoin Reserve
Ohio House Republican leader Derek Merrin introduced the “Ohio Bitcoin Reserve Act,” allowing the state treasurer to invest in Bitcoin and establish a state-managed reserve. Merrin emphasized the need to protect public funds from inflation and embrace technological innovation.
Although the bill must be reintroduced in the next legislative session, it reflects growing interest in state-level Bitcoin adoption. Similar proposals have emerged in Texas and Pennsylvania, following Donald Trump’s pro-crypto stance after his election victory.
Trump Meets Crypto.com CEO to Discuss Policy
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek at Mar-a-Lago to discuss crypto policies and a potential federal Bitcoin reserve. The meeting signals Trump’s administration’s commitment to its pro-crypto agenda.
On the same day, Crypto.com dropped its lawsuit against the SEC, with a spokesperson stating the decision reflects their intent to collaborate with the incoming administration on regulatory frameworks.
