WBTC supply contracts this month following Justin Sun custody drama
WBTC announced it will transition the custody of bitcoin for the token from BitGo to a joint venture between BitGo, BiT Global, and Sun.
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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.
— CBBTC, Justin Sun
Coinbase's new wrapped bitcoin product, cbBTC, has attracted criticism from Justin Sun, despite similar problems for his product.
Threshold Network, which issues tBTC, has a new proposal that would see it merge with WBTC after it announced its Justin Sun partnership.
— BitGo, Justin Sun
MakerDAO has passed an executive vote to disable future WBTC borrows after it was revealed that Justin Sun will soon be involved.
— BiT Global, BitGo
BiT Global, BitGo, and Justin Sun are launching a new joint venture for WBTC, but a deeper review of BiT Global finds other ties to Sun.
— BitGo, Justin Sun
Justin Sun is now involved with the WBTC products offered by BitGo, but his history with this type of product raises concerns.
The WBTC/BTC pair looks to have been removed from Poloniex completely, and the WBTC/USDT pair states, "Currently trading is disabled."
Poloniex, a Justin Sun-owned exchange, offers a WBTC product on Tron that's currently trading at a more than 20% discount on Poloniex.