This article explains the role of tokenized and wrapped assets in the crypto ecosystem, with a focus on Wrapped Bitcoin (WBTC), which is about to undergo a custody reorganization by BitGo.
JinseFinanceWBTC custodian BitGo officially announced a joint venture with Hong Kong company BiT Global, and plans to migrate WBTC's BTC management address to the joint venture multi-signature. On the surface, this is an ordinary enterprise-level joint venture strategy, but it has caused an uproar in the market.
JinseFinanceThe most obvious alternative to WBTC is Threshold Network’s tBTC. In addition to being more decentralized, tBTC also exhibits the Lindy effect at scale.
JinseFinanceRecommended readings tonight: 1. Polymarket: A success story driven by the US election; 2. Why is Ethereum performing poorly? How will the market trend go in the future?; 3. From Web2 to Web3: The next wave of evolution of Marketplace;
JinseFinanceWBTC, Interpretation of WBTC Business Model and Security Model Where is the Future Direction? Golden Finance, It’s Time to Upgrade WBTC Technical Solution
JinseFinanceWhat exactly is WBTC? What is the specific content of BitGo's announcement? What kind of company is BiT Global? How valuable is the TCSP license? What does MakerDAO's move mean? What do industry insiders think?
JinseFinanceWBTC, Justin Sun, WBTC is full of doubts. How does BitGo explain it? Golden Finance, BitGo brought WBTC into Justin Sun's home.
JinseFinanceWBTC, WBTC caused a huge shock. Golden Finance, BTC continued to recover slightly overnight to the 61-62k range.
JinseFinanceTwitter user Small Cap Scientist's highlighted the concerns on his findings on $wBTC.
TwitterSince last July, NFT transfers on the Ethereum network have outpaced stablecoins and ERC-20 tokens, while on-chain minting of WBTC has flattened out this month.
Cointelegraph