WBTC (Wrapped Bitcoin) has recently been experiencing some significant changes and unrest, following the security concerns and critique attached to its multi-jurisdictional custody arrangement. Furthermore, there have risen considerable fears about BitGo's involvement with WBTC, particularly regarding potential links to controversial figures in crypto such as Justin Sun. As a result of these security concerns, DeFi Lender, Sky, has expressed plans to offboard WBTC, pending a potential reconsideration after a meeting with BitGo's CEO. Despite these fears,
WBTC has been hitting new highs on platforms such as Aave and Coinbase, even though its supply has vastly outpaced minting. To compete with the WBTC Token, Coinbase has been hinting at the launch of its cbBTC project. Meanwhile, BitGo's CEO has disregarded concerns and insists that WBTC's security remains intact. Amid all the turbulence, the supply and demand of WBTC have been fluctuating, with an unidentified crypto whale scooping up large quantities of WBTC. Finally, critiques of the WBTC's model have led to alternative options being proposed, including the merger proposal by DeFi protocol Threshold, and Coinbase's introduction of cbBTC as a competitive alternative.
WBTC Coin News Analytics from Wed, 30 Jan 2019 15:39:57 GMT to Wed, 09 Oct 2024 18:34:28 GMT -
Rating -2
- Innovation 0
- Information 8
- Rumor 0
