Unknown crypto whale has been scooping up WBTC amid controversy
According to Lookonchain, an unknown wallet address has accumulated more than $118 million worth of Wrapped Bitcoin in the last week. Go to Source
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Coinbase cbBTC token may revolutionize Bitcoin DeFi adoption
Coinbase’s step marks the latest significant institutional entrant to the field of BTCFi. Go to Source
Coinbase Hints at the Launch of Its Wrapped Bitcoin Alternative on Base
Coinbase, one of the largest U.S.-based cryptocurrency exchanges, has hinted at the launch of its own wrapped bitcoin alternative, cbbtc. On X, Coinbase posted the currency name, followed by another post stating that it was coming soon. Jesse Pollak, the creator of Base, Coinbase’s incubated L2, declared that they were “going to build a massive … Read more
WBTC Custody Changes Prompts Defi Moves, Bitgo CEO Disregard Concerns
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. Bitgo is moving WBTC custody to a joint venture with Bit Global, another custodian, to diversify custody locations and decentralize private keys … Read more
Declining But Dominant: WBTC Maintains Market Lead Over BTCB, RBTC, LBTC, and Other Derivatives
The Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of … Read more
WBTC address poisoner sends nearly all funds back to victim after negotiations
Blockchain data shows that nearly 23,000 ETH was transferred into the victim’s account after negotiations opened on May 10. Go to Source
Badgerdao Introduces a New Ether-Backed Synthetic Bitcoin Token
Badgerdao, in partnership with Lido, has unveiled eBTC, an ether-backed synthetic bitcoin token aimed at enhancing the decentralization and capital efficiency of borrowing bitcoin in the decentralized finance (defi) space. Badgerdao and Lido Forge Partnership to Launch eBTC Badgerdao, a decentralized autonomous organization (DAO) committed to integrating bitcoin (BTC) into defi, has announced the launch … Read more
BTC and ETH Derivative Tokens Dominate by Securing Several Top Positions in the Crypto Economy
Throughout this month, bitcoin and ethereum have risen to their highest valuations in years. These two pivotal crypto assets have substantially influenced the cryptocurrency market, with bitcoin currently holding a 51.9% market dominance and ethereum at 17% as of mid-March 2024. Furthermore, in recent years, derivative tokens of bitcoin and ether have garnered significant popularity. … Read more
Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses
On April 3, 2023, at Ethereum block height 16,964,664, a group of MEV (Maximal Extractable Value) bots were exploited for $25.3 million. An analysis of the exploit revealed that a renegade validator switched the MEV bots’ transactions and seized various crypto tokens, such as 7,460 wrapped ether and 64 wrapped bitcoin. While the Mechanisms Behind … Read more
Dfinity Foundation Launches Chain-Key Bitcoin, a Native Internet Computer BTC Derivative Token
On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin … Read more
