Creditors have begun receiving funds from the estate of bankrupt crypto exchange FTX, on-chain data shows. According to a new post on the social media platform X, blockchain analytics firm Arkham spotted the distributions going through Bitgo and US-based crypto exchange Kraken. “FTX USERS RECEIVING FUNDS Users with FTX claims of under $50,000 have started […]
The post $1,200,000,000 in Crypto Sent to FTX Creditors Through Kraken and Bitgo: Arkham appeared first on The Daily Hodl.
One of the biggest US-based crypto custodian services providers is reportedly considering an initial public offering (IPO). Citing people familiar with the matter, Bloomberg reports that BitGo is in talks with potential advisers for a listing by the second half of the year. The sources say no final decision has yet been made and the […]
The post Crypto Custodian BitGo Looking To Go Public in the US This Year: Report appeared first on The Daily Hodl.
Mike Belshe, CEO of Bitgo, a cryptocurrency services provider, has highlighted the growing interest among companies in adopting bitcoin as part of their reserve portfolios. Belshe remarked that the shift to a more favorable administration and the existence of ETFs have driven this change. Bitgo CEO Remarks on Change of Stance Regarding Bitcoin in the […]
BitGo CEO Mike Belshe says that he’s anticipating the tailwinds spurring crypto assets in 2024 will likely continue into 2025. In a new CNBC interview, Belshe says that despite the crypto industry already being bullish on the new pro-crypto administration arriving in Washington D.C., it’s possible that the new regulatory environment hasn’t been completely priced […]
The post BitGo CEO Mike Belshe Predicts ‘Good Gains’ in 2025 for Bitcoin and Crypto – Here’s His Forecast appeared first on The Daily Hodl.
This week’s Crypto Biz explores Coinbase's wBTC controversial delisting, Deutsche Bank’s blockchain, USDT in Europe, FTX creditors repayment and BVNK’s move to the United States.
Coinbase’s decision to delist Wrapped Bitcoin (wBTC) has sparked significant controversy and a $1 billion lawsuit from BiT Global Digital Limited, a joint custodian of wBTC’s reserves.
In November, Coinbase announced plans to delist wBTC from its platform, citing undisclosed failures to meet its listing standards. This decision drew criticism from BiT Global Digital Limited, a Hong Kong-based crypto exchange and joint custodian of wBTC’s Bitcoin reserves alongside BitGo since August.
BiT Global alleged that Coinbase’s move was intended to promote its own competing product, Coinbase Wrapped BTC (cbBTC), which launched on Sept. 12, and has since become one of the most popular Bitcoin wrappers, with about $1.4 billion in total value locked.
This week’s Crypto Biz explores Ether ETFs growing inflows, the political moves behind Meta’s stablecoin sunset, BitGo’s plans for India, and more.
Wall Street appears to have embraced the altseason, with Ether (ETH) surpassing Bitcoin (BTC) in exchange-traded funds inflows during the final week of November.
According to CoinShares, net inflows for ETH funds reached $634 million over that week, setting a new record of $2.2 billion in 2024 as investors diversify portfolios in anticipation of improved regulatory conditions in the United States.
Markets are likely watching the prospects of additional revenue coming from ETH funds. Analysts from Bernstein Research anticipate that Ether ETFs may soon feature staking yields. “We believe, under a new Trump 2.0 crypto-friendly [Securities and Exchange Commission], ETH staking yield will likely be approved,” Bernstein said on Dec. 2.
It’s been 48 days since Bitgo revealed its partnership with Bit Global on Aug. 9, 2024. Since that announcement, the supply of wrapped bitcoin (WBTC) held on Aave V3 has soared to a new peak. Meanwhile, cbBTC, the bitcoin derivative token from Coinbase, has hit a market cap of $247.8 million. Bitcoin Derivative Landscape Shifts […]
WBTC is still the most popular Bitcoin wrapper, with nearly $10 billion in TVL, according to DefiLlama.
Wrapped Bitcoin (WBTC) supplied on decentralized lending platform Aave hit an all-time high despite anxieties around the Bitcoin (BTC) wrapper’s backing, according to data from Dune Analytics.
Aave’s WBTC supply on the Ethereum network broke 37,000 in September, or more than $2 billion at current prices, according to Dune.
The record-breaking total value locked (TVL) on Aave follows a wave of skepticism among cryptocurrency retail investors about the safety of the underlying spot Bitcoin backing WBTC.
BA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision […]
BA Labs, adviser to DeFi lender Sky, says concerns about Justin Sun’s role in Wrapped Bitcoin custody are resolved. A new vote is set for Oct. 3.
Decentralized finance (DeFi) pioneer Sky, formerly Maker, is reconsidering its plan to offboard Wrapped Bitcoin (WBTC) as collateral for its lending protocol after receiving a new recommendation from one of its key advisers, BA Labs.
On Sept. 24, BA Labs recommended pausing the WBTC offboarding plan following a lengthy conversation with BitGo co-founder Mike Belshe on Sky’s governance forum.
The move follows BitGo’s clarifications about changes in management or custody of WBTC, control of the signing keys, and commitment to give advance notice of changes.
