Wrapped Bitcoin (WBTC) has been the focus of significant attention in recent months due to a number of key events.
Coinbase made the decision to delist WBTC, a controversial move that was largely due to concerns over links to
Justin Sun.
BiT Global, connected with Sun, sued Coinbase over this delisting, eventually sparking a $1 billion lawsuit. Notably, this delisting coincides with Coinbase's shift of focus towards their own Wrapped Bitcoin product. Nonetheless, amidst these circumstances, volume for WBTC in DeFi platforms remain significant, and it has even been subject to a flash crash on the
Binance exchange. There are also persistent concerns about the security of WBTC, particularly in light of BitGo's custodial changes and Sky's potential offboarding of WBTC. However, this controversy hasn't deterred 21Shares from launching their own Wrapped Bitcoin on
Ethereum. Despite the difficulties encountered by WBTC, it has still found support from figures including the new custodian's director, who argues that Sun could be a positive influence. Ultimately, the ongoing events exemplify the complexities and challenges facing the cryptocurrency market today.
WBTC Coin News Analytics from Mon, 12 Aug 2024 07:00:00 GMT to Sat, 21 Dec 2024 08:00:00 GMT -
Rating -6
- Innovation 2
- Information 6
- Rumor -4
