Coinbase to delist WBTC

November 19, 2024 Coin Telegraph

Bitcoin

Coinbase has already discontinued market trading of WBTC and is only facilitating limit orders.

Coinbase will be suspending trading of Wrapped Bitcoin (WBTC) in December, citing undisclosed failures to meet the cryptocurrency exchange’s standards for listing tokens, Coinbase said.

“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET,” Coinbase said in a Nov. 19 post on the X platform.

Coinbase has already discontinued market trading of WBTC and is only facilitating trades in in the form of limit orders.

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Coinbase’s Bold Move: Bitcoin Derivative Token WBTC to Be Delisted Next Month

November 19, 2024 Bitcoin.com

bitcoin.com

On Tuesday, the San Francisco based crypto firm Coinbase announced that it would be delisting wrapped bitcoin (WBTC) on Dec. 19, 2024. Coinbase to Pulls Wrapped Bitcoin From Its Platform on Dec. 19 Coinbase plans to suspend trading of the bitcoin derivative token wrapped bitcoin (WBTC) next month, according to a post shared by the […]

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Coinbase wrapped Bitcoin deploys on Solana, aimed at growing DeFi market

November 8, 2024 Coin Telegraph

cbBTC

The deployment will allow users to utilize Bitcoin in Solana’s burgeoning DeFi ecosystem, according to Coinbase.

America’s largest cryptocurrency exchange, Coinbase, has deployed its version of wrapped Bitcoin on the layer-1 blockchain Solana as it seeks to expand the adoption of the asset in decentralized finance (DeFi).

“This is the first token Coinbase has issued on Solana, and with it, we’re excited to bring easy access to BTC,” the company said in a post on X announcing the deployment on Nov. 7.

Coinbase added that cbBTC will take the form of a Solana Program Library (SPL) token, a Solana-based token that can represent both fungible and non-fungible assets.

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Hackers Plunder $2,000,000 Worth of Crypto From Liquid Restaking Protocol Bedrock

September 28, 2024 The Daily Hodl

Bedrock

A liquid staking protocol says that bad actors made away with millions of dollars worth of crypto assets after hacking into the decentralized finance (DeFi) platform. In a new announcement on the social media platform X, Bitcoin (BTC) restaking project Bedrock says that they’ve been exploited for $2 million but assures customers that they’ve identified […]

The post Hackers Plunder $2,000,000 Worth of Crypto From Liquid Restaking Protocol Bedrock appeared first on The Daily Hodl.

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

September 27, 2024 Bitcoin.com

Aave V3

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 […]

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Wrapped Bitcoin supplied on Aave hits record high despite backing fears

September 26, 2024 Coin Telegraph

21btc

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.

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Sky Adviser Recommends Halting Wrapped Bitcoin Offboarding

September 25, 2024 Bitcoin.com

BA Labs

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 […]

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Sky rethinking plan to offboard WBTC after discussion with BitGo CEO

September 25, 2024 Coin Telegraph

BitGlobal

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.

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

September 23, 2024 Coin Telegraph

21.co

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).

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Coinbase’s cbBTC wrapped Bitcoin coming to Solana — Breakpoint 2024

September 21, 2024 Coin Telegraph

Breakpoint 2024

Wrapped Bitcoin products allow users to retain asset control while using Bitcoin as collateral for decentralized finance applications.

Coinbase's country director for Singapore, Hassan Ahmed, recently announced plans to bring Coinbase's new "cbBTC" — a wrapped Bitcoin asset — to the Solana (SOL) network at the Breakpoint 2024 event.

No date was specified for the launch of the Bitcoin (BTC) token during the announcement. Ahmed told the audience:

The Coinbase executive's announcement drew immediate applause from the Solana-centered conference — indicating an appetite for the collateralized asset.

WBTC

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