Sky reevaluates plan to offboard WBTC following discussion with BitGo CEO
BA Labs, an advisor to DeFi lender Sky, says its concerns with Tron founder Justin Sun’s involvement in the custody of the Wrapped Bitcoin token […]
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BA Labs, an advisor to DeFi lender Sky, says its concerns with Tron founder Justin Sun’s involvement in the custody of the Wrapped Bitcoin token […]
Coinbase’s cbBTC is backed at a 1:1 ratio with Bitcoin, which serves as the underlying asset for the tokenized BTC wrapper.
Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.
The vote was passed with 88% in favor of offloading WBTC collateral from the Sky lending platform.
According to data from CryptoQuant, cbBTC circulation supply has outpaced long-established players seven days after launch.
The team behind Sky, formerly Maker, wants to drop WBTC due to what it claimed were recent changes in ownership and control “likely involving Justin […]
The exchange announced that cbBTC is now available in the United Kingdom, Australia, Singapore, and all US states except New York.
The proposal would effectively transfer control of WBTC to Threshold.
According to Lookonchain, an unknown wallet address has accumulated more than $118 million worth of Wrapped Bitcoin in the last week.
Coinbase’s step marks the latest significant institutional entrant to the field of BTCFi.
