Bookmarking Crypto Insights
Auto Added by WPeMatico
BA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision … Read more
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 have been addressed and new recommendations will be put to a vote on Oct. 3. Go to Source
The integration comes as other Bitcoin wrappers face scrutiny for custody practices. Go to Source
Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications. Go to Source
The vote was passed with 88% in favor of offloading WBTC collateral from the Sky lending platform. Go to Source
This week, Cryptoquant researchers highlighted a new rivalry heating up in the wrapped bitcoin market, with Coinbase’s cbBTC stepping up to challenge Bitgo’s long-established reign. Coinbase’s Wrapped Bitcoin Token cbBTC Shakes Up Market Coinbase introduced its wrapped bitcoin token, cbBTC, in mid-September 2024, and it has swiftly expanded to a supply of 1,670 cbBTC, according … Read more
According to data from CryptoQuant, cbBTC circulation supply has outpaced long-established players seven days after launch. Go to Source
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 Sun or affiliates.” Go to Source
Nomic’s nBTC will compete with wBTC and come without controversy or centralization concerns. Go to Source
Crypto custodian BitGo is now using LayerZero’s OFT Standard to deploy its WBTC across more than 80 chains. Go to Source
