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A lot of talk about $WBTC lately because of the upcoming controlling entity changes. 💡If this has you worried, please note you can use our Loan Shifter to convert existing $WBTC positions to $tBTC. Options currently available at DFS that support $tBTC include: -… https://t.co/rwl1yrh38f
In the past 24 hours, Wintermute, a prominent algorithmic trading firm and crypto market maker deposited over 3,000 WBTC into Binance. Could this signal growing institutional concerns about WBTC? This comes just a few days after Bitgo's announcement. https://t.co/Jf1SOuyzZU
Weekly Project Updates: WBTC Faces Trust Crisis, Arbitrum to Introduce ARB Staking, Grayscale Launches MKR Trust, etc https://t.co/PUXDhnZIYc https://t.co/UKWJn6qeKx
The MakerDAO community is currently engaged in a debate over significant changes to the management of Wrapped Bitcoin (WBTC). The proposed changes involve transitioning control to a joint venture between BiT Global and Justin Sun, with custody moving to Hong Kong and Singapore. This shift has raised security concerns among DeFi leaders, prompting some to abandon WBTC. The situation has been further complicated by Wintermute, a prominent algorithmic trading firm and crypto market maker, depositing over 3,000 WBTC into Binance, which may indicate growing institutional concerns. This development follows Bitgo's recent announcement, contributing to the ongoing trust crisis surrounding WBTC.
