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