Bitcoin24h $109,762.98+1.79%

Ethereum24h $2,590.82+5.64%

XRP24h $2.30+4.81%

BNB24h $663.20+0.82%

Solana24h $154.87+3.65%

TRON24h $0.2839+1.03%

Dogecoin24h $0.1740+7.64%

Cardano24h $0.6040+7.90%

Hyperliquid24h $40.58+4.63%

Sui24h $3.03+9.72%

Justin Sun’s HTX redeems $500M in WBTC it wasn’t supposed to have

Justin Sun-advised HTX recently redeemed approximately $500 million worth of WBTC, despite having no WBTC on its proof-of-reserves.

Coinbase to delist WBTC months after Justin Sun controversy

Coinbase has announced that it intends to delist Wrapped Bitcoin (WBTC) from December 19 because it no longer meets the listing requirements.

Since WBTC announced that Justin Sun would be involved in custody, several competitors have launched or taken advantage of the opportunity.

WBTC announced it will transition the custody of bitcoin for the token from BitGo to a joint venture between BitGo, BiT Global, and Sun.

Justin Sun’s deal to become involved with BitGo and wrapped bitcoin (WBTC) has drawn more attention to his own exchanges.