MakerDAO Weighs BA Labs Proposal to Delist WBTC, 10% of DAI's Backing

MakerDAO is considering a proposal by BA Labs to close all new WBTC debt, which could lead to offboarding in the coming months. This move is significant as WBTC represents approximately 10% of DAI's backing and is a major revenue driver for MakerDAO. The management of WBTC is transitioning to a joint venture between BiT Global and Justin Sun, with custody moving to Hong Kong and Singapore. The potential delisting of WBTC by MakerDAO is seen as a necessary step despite the lack of real alternatives for DeFi users.