Crypto exchange Coinbase is being sued for over $1 billion by BiT Global Digital Limited, alleging market harm after Coinbase’s November decision to delist Wrapped Bitcoin (wBTC). In a Dec. 13 complaint, BiT Global accused Coinbase of delisting wBTC to promote its own product, cbBTC. The move allegedly caused significant financial losses and damaged consumer confidence in wBTC. The lawsuit claims attempted monopolization of the wrapped Bitcoin market under the Sherman Act, predatory practices to undermine wBTC, and false statements suggesting wBTC failed to meet listing standards. Coinbase announced the token delisting on Nov. 19, citing undisclosed failures to meet its listing standards. A Coinbase spokesperson defended the decision, stating: “Coinbase is committed to maintaining the high integrity of our listing standards, and we regularly evaluate assets listed on our platform. Should an asset fail to meet those standards, it is delisted.” BiT Global, a Hong Kong-based crypto exchange, has been a joint custodian of wBTC reserves with BitGo since August. The lawsuit, filed in the Northern District of California by law firm Kneupper & Covey, alleges Coinbase favored memecoins while challenging wBTC’s compliance with listing standards. Attorney Kevin Kneupper stated, “We believe this decision sets a terrible precedent for everyone in the cryptocurrency space. If an exchange of Coinbase’s size can delist a cryptocurrency just as it plans to launch its own competing product, who’s safe? And who’s next?” The lawsuit seeks damages exceeding $1 billion and demands injunctive relief to prevent further harm. BiT Global claims Coinbase aimed to eliminate competition, stating: “It’s clear that Coinbase’s decision is an attempt to gain a competitive advantage, pushing forward their own wrapped Bitcoin product, cbBTC, and removing the largest and most influential competitor in wBTC.” Coinbase previously announced: “Based on our most recent review, Coinbase will suspend trading for wBTC on Dec. 19, 2024, on or around 12 pm ET.”
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Chill Pepe (CHILPEPE) Memecoin Will Explode Over 14,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag
Chill Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Chill Pepe (CHILPEPE), a new Solana memecoin that was launched today, is set to explode over 14,000% in price in the coming days. This is because CHILPEPE is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Chill Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Chill Pepe could become the next viral memecoin. Chill Pepe launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Chill Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Chill Pepe by entering its contract address – AfPftBmzfb2pan4Drt2ZKgT7VK5Rn7CLQHpp8DpLhXZj – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like CHILPEPE. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. CryptoIntelligence
Fuel Network (FUEL) Genesis Sale on Bitget LaunchX
Victoria, Seychelles, December 15th, 2024, Chainwire Bitget is excited to announce the listing of the LaunchX project Fuel Network (FUEL). Bitget LaunchX is an innovative token distribution platform designed for the Web3 community. It enables users to discover promising projects early and gain access to project tokens during their launch stage. Head to LaunchX About the project Fuel combines several innovative features in order to bring new capabilities to the Ethereum ecosystem, without making any compromises. Fuel rollups have parallelized transaction execution, native account abstraction, and support for wallets of all networks. Fuel Ignition delivers high throughput (>600 TPS) and cost efficiency (minimum cost of Fuel Network LaunchX details ● Coin name: Fuel Network (FUEL) ● Total supply: 10,000,000,000 FUEL ● LaunchX volume: 275,000,000 FUEL (2.75% of total supply) ● Exchange rate: 1 FUEL = 0.02 USDT ● Commitment method: USDT ● Individual hard cap (USDT): 5000 ● Individual min. commitment (USDT): 20 ● Individual subscription cap (FUEL): 250,000 How LaunchX works 1. LaunchX adopts a commitment-subscription model. The more committed, the larger the subscription share! 2. Bitget LaunchX participants can calculate their new coin allocation according to the following formula: new coin allocation for a user = (user’s commitment amount ÷ total commitment amount of all users) × total tokens sold in the current LaunchX promotion. 3. The commitment amount for each user cannot exceed the individual commitment limit, and the allocation of new coins to each user cannot exceed the individual subscription limit. How to participate: 1. Logging in to Bitget account . 2. Web: Clicking on Launchhub in the navigation bar, and selecting LaunchX from the dropdown menu, or visiting here for quick access. App: Opening the Bitget app, tapping LaunchX in the quick access section, or finding LaunchX under More. 3. Visiting the project’s details page. If the project is in the subscription phase, tap Subscribe Now and enter a commitment amount in the pop-up window, and tap Confirm. If the subscription period hasn’t begun, please check back later. 4. After the subscription is complete, the coins will become viewable in the spot account following the distribution. If the amount of new coins received from the subscription is less than the actual commitment amount, any excess funds will be unlocked and returned to the spot account after the distribution period ends. Fuel Network (FUEL) LaunchX timeline Subscription phase: December 17, 02:00 – December 19, 02:00 (UTC) FUEL distribution phase: December 19, 02:00 – December 19, 10:00 (UTC) FUEL/USDT spot trading listing time: December 19, 10:00 (UTC) Notes: 1. What are the requirements to participate in LaunchX? To ensure a safe and compliant environment, Bitget LaunchX requires all users to complete identity verification . Sub-accounts and restricted accounts are not eligible to participate. 2. How much can users commit in LaunchX and how many new coins can users subscribe to? Each LaunchX public sale has an individual commitment limit, which cannot be exceeded. Additionally, there may be an individual subscription limit, specifying the maximum number of new coins one can acquire in each public sale. 3. When can the new coins be expected after committing? The new coins will be calculated and distributed before the distribution period ends. Due to batch processing of data, there may be a delay in the distribution. Bitget appreciates the users’ patience. LaunchX income and expenses can be tracked in Assets > Spot Account > Spot Records. 4. Can users withdraw committed funds at any time? No, once committed, the funds cannot be withdrawn at any time. After the new coins are distributed, if the number of new coins received is less than the actual committed amount, any excess funds will be unlocked after distribution. Terms and conditions 1. Users must complete identity verification to participate in the promotion. 2. All participants must strictly comply with Bitget’s terms and conditions. 3. Sub-accounts, institutional accounts, and market maker accounts are not eligible for the promotion. 4. Bitget reserves the right to disqualify any user from participating in the promotion and confiscate their rewards if any fraudulent conduct, illegal activities (e.g., using multiple accounts to claim rewards), or other violations are found. 5. Bitget reserves the right to amend, revise, or cancel this promotion at any time without prior notice, at its sole discretion. 6. Bitget reserves the right of final interpretation of the promotion. Users may contact customer service if they have any questions. About Bitget Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price , Ethereum price , and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more. Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Disclaimer Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, users can refer to the Terms of Use . Users can sign up on Budget Now >>> Follow Bitget on Twitter >>> Join the Bitget Community >>> Contact Public Relations Media Bitget media@bitget.com CryptoIntelligence