WBTC Coin has been a topic of great controversy recently with several news items covering its story. The cryptocurrency, tied to Bitcoin, was set to be delisted from
Coinbase on December 19 but this move came with considerable backlash. Many believe this decision is connected with the cryptocurrency's link to entrepreneur
Justin Sun whose involvement is considered an 'Unacceptable Risk' by Coinbase. This decision has led to a $1 billion lawsuit, filed by
BiT Global, against Coinbase, on claims of anticompetitive practices, and allegations that the delisting was a strategic move to favor Coinbase's own wrapped bitcoin product,
cbBTC. This suit was however dismissed by a federal judge, citing Sun's involvement in WBTC as a valid driving factor behind the decision. In the midst of all this,
World Liberty Financial, backed by Donald Trump, transitioned more than $10M worth of cbBTC to WBTC. Meanwhile,
BitGo, the custodian of WBTC, has maintained the security of its asset remains intact despite the unfolding events. Despite the turbulent atmosphere, WBTC supply on lending platform
Aave hits a record high and
WLFI also invested $9.84M into the coin boosting its total crypto holdings to $365M.
WBTC Coin News Analytics from Wed, 07 Aug 2024 07:00:00 GMT to Wed, 05 Feb 2025 08:00:00 GMT -
Rating -5
- Innovation -3
- Information 8
- Rumor -6
