Wrapped Bitcoin Price Flash Drops To $5K On Binance
On November 23, 2024, the price of Wrapped Bitcoin (WBTC) on Binance briefly and rapidly declined to an all-time low of approximately $5,200. In an apparent flash crash that did not impact the asset’s price on other exchanges, the cost of Wrapped Bitcoin on Binance briefly and rapidly plunged to an all-time low of approximately […]
Coinbase to Delist WBTC After Compliance Review
Coinbase will delist wrapped Bitcoin (WBTC) due to unmet compliance standards, halting trading but keeping user funds accessible. Recently, Coinbase disclosed that the bundled Bitcoin (WBTC) pairs would be delisted imminently. This decision was made in response to a review of the platform’s asset listing standards, which may have been noncompliant. Consequently, users will still […]
Sky to Drop Wrapped Bitcoin Due to Change in Ownership
Sky, previously known as Maker, has suggested removing Wrapped Bitcoin as collateral within its ecosystem due to the token’s close association with Justin Sun. In a post on the protocol’s governance forum on September 12, Sky’s team announced that it would officially discontinue Wrapped Bitcoin (WBTC) variations on SparkLend, its decentralized non-custodial liquidity protocol. The […]
Coinbase Teases Wrapped Bitcoin Token WBTC Amid Concerns
After hinting at a new wrapped Bitcoin product called “cbBTC,” Coinbase has stirred up the cryptocurrency market. The announcement was made on August 14th, via Coinbase’s official X account. The post merely said “cbBTC” and included a “coming soon” remark. In a later article, Jesse Pollak, the head of Coinbase’s layer-2 network Base, expressed his […]
MakerDAO Tags Risks On Justin Sun’s Role in WBTC Custody
MakerDAO assesses the risk associated with the recent shifts in WBTC custody due to Justin Sun’s role in the BitGo and BiT Global joint venture. MakerDAO , a prominent entity in the decentralized finance (DeFi) sector, is evaluating the potential effects of the forthcoming Wrapped Bitcoin (WBTC) custody shifts on its risk management framework. The […]