DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin Due - Coin Index News

DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns

Carmen Brooke Martin September 19, 2024

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BA Labs recently made proposals to offboard Wrapped Bitcoin (WBTC) due to perceived risks associated with Tron founder Justin Sun’s involvement with BiTGlobal, the custodian for the underlying assets.

BitGo, the original custodian for WBTC, had announced in August its plans to transition control of the asset to a joint operation with BiT Global. BiT Global operates with regulatory oversight in Hong Kong.

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Carmen Brooke Martin September 19, 2024

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Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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