1. Home
  2. BitGo

BitGo

WBTC Hits New High on Aave, Coinbase’s Wrapped Bitcoin Supply Soars

WBTC Hits New High on Aave, Coinbase’s Wrapped Bitcoin Supply SoarsIt’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 […]

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Wrapped Bitcoin supplied on Aave hits record high despite backing fears 

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.

Read more

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Sky Adviser Recommends Halting Wrapped Bitcoin Offboarding

Sky Adviser Recommends Halting Wrapped Bitcoin OffboardingBA 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 […]

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Sky rethinking plan to offboard WBTC after discussion with BitGo CEO

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. 

Read more

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

21.co’s Bitcoin wrapper to add Chainlink proof of reserve

The integration comes as other Bitcoin wrappers face scrutiny for custody practices. 

21.co, the parent company of cryptocurrency asset manager 21Shares, announced on Sept. 23 that it is adding Chainlink’s proof of reserve to 21BTC to address potential concerns about the Bitcoin (BTC) wrapper’s backing. 

Integrating proof of reserves into 21BTC on Ethereum and Solana “protects against malicious minting by embedding cryptographic guarantees that new tokens minted are backed by reserves,” 21.co said

The announcement follows a wave of skepticism among cryptocurrency retail investors about the safety of the underlying spot BTC backing Bitcoin wrappers including Wrapped Bitcoin (WBTC) and Coinbase Wrapped BTC (cbBTC). 

Read more

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Crypto Biz: Circle prepares to debut on Wall Street

Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.

Stablecoin issuer Circle is moving forward with its initial public offering (IPO) debut and plans to shift its headquarters to Wall Street in 2025, according to CEO and founder Jeremy Allaire.

Circle filed for an IPO in January, pending the approval of the United States Securities and Exchange Commission.

In another strategic move to strengthen its USD Coin (USDC) as a regulated version of the digital US dollar, Circle has recently integrated its stablecoin with the national banking systems of Brazil and Mexico. The integration will give businesses in both countries real-time access to USDC through local financial institutions. 

Read more

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

SEC Reviews Proposal for New Bitcoin, Ether ETF Custodians

SEC Reviews Proposal for New Bitcoin, Ether ETF CustodiansThe U.S. Securities and Exchange Commission (SEC) is seeking public input on a proposal by Cboe BZX Exchange to add new custodians for bitcoin and ethereum exchange-traded funds (ETFs). The plan aims to enhance security by adding Anchorage Digital Bank and Bitgo alongside Coinbase as custodians for bitcoin and ether holdings. SEC Reviews Proposal for […]

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Cryptoquant: Coinbase’s cbBTC Could Challenge Bitgo in Wrapped Bitcoin Market

Cryptoquant: Coinbase’s cbBTC Could Challenge Bitgo in Wrapped Bitcoin MarketThis week, Cryptoquant researchers highlighted a new rivalry heating up in the wrapped bitcoin market, with Coinbase’s cbBTC stepping up to challenge Bitgo’s long-established reign. Coinbase’s Wrapped Bitcoin Token cbBTC Shakes Up Market Coinbase introduced its wrapped bitcoin token, cbBTC, in mid-September 2024, and it has swiftly expanded to a supply of 1,670 cbBTC, according […]

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Bitgo to Launch USDS Stablecoin in January 2025

Bitgo to Launch USDS Stablecoin in January 2025Bitgo plans to launch its new stablecoin, USDS, in January 2025, offering a unique model that rewards liquidity providers. The announcement was made by Bitgo CEO Mike Belshe during an interview with Coindesk at the Token2049 event in Singapore. The stablecoin will be backed by U.S. Treasury bills, overnight repos, and cash, aiming to create […]

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?

Anchorage Digital Bank, Bitgo join Coinbase to custody 21Shares crypto ETFs

The move diversifies spot crypto ETF custodians beyond Coinbase, which has dominated crypto custody for US issuers.

Asset manager 21Shares is adding Anchorage Digital Bank and BitGo as custodians for its spot cryptocurrency exchange-traded funds (ETF), according to a Sept. 12 announcement.

Anchorage Digital Bank and BitGo will join Coinbase, the existing custodian, in the custody of Bitcoin (BTC) and Ether (ETH) for 21Shares’ two United States spot crypto ETFs, ARK 21Shares Bitcoin ETF (ARKB) and 21Shares Core Ethereum ETF (CETH). 

“We consider our custody partners to be crucial to the risk management […] of our product lineup, and diversification adds to the safety and security of our offering,” Andres Valencia, 21Shares’s head of investment management, said in a statement. 

Read more

Trump and Politifi Tokens Surge — Which Coins Are Soaring the Most?