CEX announced the suspension of wBTC trading

On December 20th, CEX announced that wBTC trading has been suspended. wBTC trading on CEX Exchange and CEX Prime is suspended, but users can still withdraw funds at any time. As previously reported by BlockBeats, on December 19th, U.S. federal judge Araceli Martínez-Olguín rejected Hong Kong-based company BiT Global's request for a temporary restraining order, allowing CEX to proceed with its plan to delist Wrapped Bitcoin (WBTC) from its platform. The judge ruled that BiT Global failed to demonstrate that CEX's actions would cause it "immediate and irreparable harm". On October 10th, WBTC completed its transition to a geographically distributed custody structure. Under the partnership protocol between BitGo and BiT Global, control over the underlying BTC will now be shared by Singapore, Hong Kong, and the United States. The new custody structure uses a multi-signature protocol that requires two signatures to approve any transaction and transfer funds from the wallet.