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news-imageSeptember 13, 2024

Sky Lend Announces WBTC Exit: New cbBTC from Coinbase to Take Its Place

TL;DR Sky proposes to withdraw WBTC from its loans and collateral due to risks associated with BitGo's custody of the asset. The recent redistribution of BitGo's multi-sig keys to third parties has raised concerns about the security of the underlying BTC.
Publisher: Crypto Economy
Sentiment: Negative
WBTC

More News Articles

Positive
cover-imageCryptoSlate
October 10, 2024

Threshold Network proposes bold plan to further decentralize WBTC

Threshold Network has proposed further decentralizing BitGo's Wrapped Bitcoin (WBTC) amid its recent challenges in the DeFi market. On Oct. 9, Matt Luongo, founder of the Bitcoin-focused venture studio Thesis, outlined the goal of expanding the number of signers involved in managing the WBTC asset using the Threshold Network.

Positive
cover-imageProactive Investors
October 7, 2024

Crypto.com and 21Shares team up on ‘wrapped bitcoin' project

Cryptocurrency exchange Crypto.com and crypto fund manager 21Shares have announced a strategic partnership aimed at bolstering the liquidity of 21Shares' Wrapped Bitcoin product (21BTC). Through the partnership, 21Shares will source liquidity from Crypto.com, which currently has around $2 billion in bitcoin under custody (according to CoinMarketCap).

Neutral
cover-imageBitcoin
September 25, 2024

Sky Adviser Recommends Halting Wrapped Bitcoin Offboarding

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.

Positive
cover-imageThe Daily Hodl
September 23, 2024

Coinbase New Wrapped Bitcoin (cbBTC) Coming to Solana, Says Crypto Exchange's Executive

Top US-based crypto exchange Coinbase says its wrapped version of Bitcoin (BTC) is coming to the smart contract platform Solana (SOL). In a session during the Solana Breakpoint 2024 event, Coinbase executive Hasan Ahmed says the crypto exchange is introducing Coinbase Wrapped Bitcoin (cbBTC) to the Ethereum (ETH) competitor's blockchain.

Positive
cover-imageTokenpost
September 23, 2024

Coinbase's Wrapped Bitcoin cbBTC Heads to Solana—Surprise Breakpoint 2024 Announcement Electrifies

Coinbase surprised attendees at Breakpoint 2024 by announcing plans to roll out cbBTC wrapped Bitcoin on Solana, sparking immediate enthusiasm and positioning the asset for broader use across popular blockchain networks. At the Breakpoint 2024 event, Hassan Ahmed, Coinbases country director for Singapore, recently announced intentions to bring Coinbases new cbBTCa wrapped Bitcoin assetto the Solana network.

Neutral
cover-imageCryptoGlobe
September 15, 2024

TRON Founder Blasts Coinbase's Wrapped Bitcoin Product cbBTC as ‘Central Bank Bitcoin', Brian Armstrong Responds

Coinbase recently introduced cbBTC, a wrapped version of Bitcoin designed to integrate with decentralized finance (DeFi) applications on Ethereum and Base networks. This new product aims to expand Bitcoin's utility beyond simple holding or trading, allowing users to participate in various DeFi activities without converting their Bitcoin to other cryptocurrencies.

Positive
cover-imageCrypto Briefing
September 13, 2024

Coinbase Wrapped Bitcoin hits $100M market cap

Coinbase's cbBTC could significantly boost DeFi activities but raises concerns about centralization and security risks in decentralized finance. The post Coinbase Wrapped Bitcoin hits $100M market cap appeared first on Crypto Briefing.

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