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Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022.
Wrapped Bitcoin (WBTC) supply on Ethereum (ETH) plunged by over 35% to 183,450 since Terra (LUNA) collapsed in May 2022, according to Glassnode data. The post WBTC supply on Ethereum dropped 35% since LUNA collapse appeared first on CryptoSlate.
Data suggests the wrapped Bitcoin (WBTC) supply on Ethereum has dropped by around 35% since the LUNA/UST collapse last year. 101,550 BTC Has Exited Wrapped Bitcoin Supply Since All-Time High According to data from the on-chain analytics firm Glassnode, about 285,000 BTC was locked into the WBTC supply at an all-time high (ATH) last year.
Tokenized version of Bitcoin on Ethereum has been slowly melting for last few months, which brings us to unpleasant conclusion
SHIB army greatly increases burn rate as meme coin has reached several milestones by now
The restructuring team overseeing the FTX and Alameda Research bankruptcy process is trying, and failing, to navigate DeFi, on-chain data shows.
The BitGo CEO said the withdrawal requests came as Sam Bankman-Fried petitioned investors for capital before announcing FTX's bankruptcy.
BitGo CEO Mike Belshe revealed that the firm declined Alameda Research's request to redeem 3,000 Wrapped Bitcoin (WBTC) a few days before its bankruptcy in a December 14 Twitter space. The post BitGo declined Alameda's attempt to redeem 3,000 WBTC appeared first on CryptoSlate.
The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC.
BitGo CEO Mike Belshe has now confirmed that his firm stopped Alameda from unwrapping $50 million in wrapped bitcoin for Alameda The post BitGo refused to unwind $50 million in wrapped bitcoin for Alameda appeared first on The Block.
Wrapped Bitcoin is the leading form of Bitcoin “wrapped” in a smart contract on the Ethereum network. The post Analyzing the WBTC FUD after the FTX collapse and its depeg appeared first on CryptoSlate.
Investors burn a record high of 10,000 WBTC worth $170 million at the moment amid a slump in DeFi, the market data shows. The volume of WBTC has decreased over the last week.
This week saw misinformation on Twitter about potential "insolvency" of WETH. None of that was accurate.
Wrapped bitcoin (WBTC), a clone of bitcoin (BTC), has traded at a discount to BTC's price since crypto exchange FTX filed for bankruptcy protection on Nov. 11. "All About Bitcoin" host Lawrence Lewitinn breaks down the Chart of the Day.
Wrapped Bitcoin—WBTC—lost its peg last week. Here's what that means, and why it matters.
Bitcoin-backed Wrapped Bitcoin (WBTC) tokens have been trading at a discount compared to their Bitcoin backing ever since the fall of major crypto exchange FTX.
Despite the scaremongering generated on Twitter, WBTC is perfectly fine
Wrapped Bitcoin (wBTC) is Bitcoin that has been regenerated to be used within the Ethereum ecosystem. Launched in January 2019, wBTC is an Ethereum token that's backed by Bitcoin (BTC), which implies that one wBTC should always be equal to one Bitcoin.
Wrapped Bitcoin (WBTC) Depeg News: Following the chaos around FTX collapse in recent weeks, speculation is now rife around the Wrapped Bitcoin (wBTC) depegging from the Bitcoin price. While the rumors suggest certain wBTC is missing as it belonged to Alameda Research, the BitGo team cited routine maintenance of DAO multisig rotation.
One wBTC is currently not one BTC for the first time since this tokenized dollar launched in 2018.
The Wrapped Bitcoin DAO is migrating to a new smart contract multisig with a new set of signers responsible for governing the contracts. The post Wrapped Bitcoin DAO removes FTX, nine others in move to new multisig appeared first on The Block.
Here are the latest DeFi interest rates from the most established DeFi lending and savings platforms. The post This Week's DeFi Interest Rates: Best Yields for Lending and Saving appeared first on Bitcoin Market Journal.
FTX filed for bankruptcy and FTX US later froze withdrawals for certain assets.
There are some issues inherent in these tokens that need to be known
