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Coinbase's potential wrapped Bitcoin token could reshape DeFi dynamics, offering a new alternative amid existing WBTC controversies. The post Coinbase hints at possible wrapped Bitcoin token launch appeared first on Crypto Briefing.
Speculators think the post refers to Coinbase's own wrapped Bitcoin product, which will potentially be launched on its layer-2 network Base.
Crypto exchange Coinbase is all set to expand its footprint in the Bitcoin ecosystem by teasing the launch of cbBTC which could be a potential rival to the Wrapped Bitcoin WBTC token. Interestingly, the crypto exchange announces cbBTC at a time when concerns regarding Justin Sun's involvement with the WBTC token have grown.
The recent announcement of the custody change of WBTC, a wrapped version of bitcoin, has prompted a negative reaction in decentralized finance (defi) protocols that reject Justin Sun's disclosed relation with the project.
MakerDAO is evaluating whether to halt the minting of its DAI stablecoin using Wrapped Bitcoin (WBTC) as collateral.
The collaboration was described as a strategic partnership between BitGo, the Tron ecosystem, and Justin Sun
BitGo CEO dismisses claims that Justin Sun's involvement in its Wrapped Bitcoin business will somehow impact its security or transparency.
BitGo's announcement of changes to its Wrapped Bitcoin (WBTC) business, including a joint venture with BiT Global and involvement of Justin Sun, has sparked debate
Crypto custody platform Bitgo is planning to move the wrapped bitcoin (WBTC) product to its joint venture with Hong Kong-based BiT Global which is triggering a backlash due to Justin Sun's involvement.
In light of Justin Suns increased role, MakerDAO is reviewing its risk management practices as BitGo plans to transfer WBTC custody to a joint venture with BiT Global within the next 60 days. MakerDAO Reconsiders WBTC Debt Ceilings An important participant in the decentralized finance (DeFi) space, MakerDAO, is now analyzing how the impending changes to Wrapped Bitcoins (WBTC) custody would affect its risk management system.
BitGo recently announced a new venture to diversify its Wrapped Bitcoin custodial locations, and Justin Sun's involvement has caused concern for some.
BitGo's CEO responded to controversy surrounding Tron founder Justin Sun's involvement in a new partnership that will safeguard Wrapped Bitcoin.
BA Labs on MakerDAO wants the Maker protocol to limit exposure to wrapped Bitcoin (WBTC). The recommendation follows the news that WBTC issuer BitGo will partner with BitGlobal to transfer WBTC control to a new joint venture involving Tron founder Justin Sun.
Wrapped Bitcoin (wBTC) corresponds to approximately 10% of the overcollateralized stablecoin DAI reserves, which investors now consider removing as collateral. This decision could start a Bitcoin (BTC) sell-off if investors decide to close their wBTC exposure following Bitgo's controversial announcement.
Justin Sun and BitGo's partnership on WBTC custody operations spooks DeFi players.
BitGo, a leading crypto custodial platform, will shift its Wrapped Bitcoin (WBTC) to a new multi-jurisdictional and multi-institutional custody model. This decision has raised concerns in the crypto community, particularly because of the involvement of Justin Sun, founder of the TRON blockchain.
Wrapped Bitcoin (WBTC) was the focus of the cryptocurrency community recently, especially about Justin Sun's possible impact. There has been a lot of conjecture regarding the future of WBTC since BitGo announced that it intends to hand over control of the cryptocurrency to a joint venture with BiT Global.
MakerDAO raises concerns about Justin Sun's involvement in the upcoming Wrapped Bitcoin (WBTC) custody changes.
BitGo claims the move of its Wrapped Bitcoin business will make it the world's first “multi-jurisdictional and multi-institutional custody."
BitGo claims the move of its Wrapped Bitcoin business will make it the world's first “multi-jurisdictional and multi-institutional custody.”
BitGo and BiT Global have partnered to form a joint venture that will enhance the custody and cold storage of WBTC.
MakerDAO, a prominent player in the decentralized finance (DeFi) sector, is assessing the impact of the upcoming Wrapped Bitcoin (WBTC) custody shifts on its risk management framework. Due to BitGo, a major WBTC custodian, recent statement that it would transfer the control of the product to a new joint venture with BiT Global, the governance-focused
A cryptocurrency investor has reaped a windfall of approximately $15.5 million after selling wrapped Bitcoin (WBTC), a token representing the flagship cryptocurrency on Ethereum Vitrtual Machine (EVM) compatible networks, that they acquired over a year ago.
$WBTC, originally an ERC-20 token representing Bitcoin on Ethereum, now extends its utility to Solana, enabled by the Wormhole protocol. This integration allows $WBTC to be utilized across various Solana-based platforms, such as Drift Protocol, Kamino Finance, and Orca's Exchange.
