The largest cryptocurrency exchange in the United States, Coinbase, has announced that it is suspending the trading of wrapped Bitcoin (wBTC) as its own cbBTC offering continues to rise in value. In a post to X (formerly Twitter), the exchange announced that the suspension comes as part of a compliance review for the cryptocurrency. The…
This Op-Ed explores if there is a way out of the centralization cycle for wrapped Bitcoin. TLDR: The Greeks wrote about Sisyphus, eternally pushing his boulder uphill, only for it to roll back down. In crypto, we keep pushing Bitcoin toward decentralization, only to watch wrapped versions roll back into centralized hands. Is this our…
The wrapped Bitcoin product from Coinbase has topped the $1 billion market cap on Solana. Solana price has continued to shine amid a broader crypto ecosystem boom. Recently launched on the Solana blockchain, the Coinbase Wrapped BTC (cbBTC) product has hit the $1 billion market capitalization milestone. This update comes amid surges in Solana’s price…
Coinbase has deployed its very first token – cbBTC on the Solana ecosystem. The token is aimed at improving Bitcoin accessibility and enhancing DeFi adoption. The crypto market has progressed further in its bullish movements, with Bitcoin steadying at the $75K level. Meanwhile, the community has begun speculating on new regulatory leadership and other changes…
October 22, 2024 at 02:23 AM GST updated: October 21, 2024 at 01:03 PM 3 mins read News CVault.finance’s CORE token focuses on deflationary governance and yield farming with its upcoming Automated Strategy Vaults. Beefy Finance optimizes yields for staked tokens using smart contracts, offering instant withdrawals for users. Tether Gold provides a stable cryptocurrency…
Kraken has launched KBTC, a wrapped bitcoin product fully backed 1:1 by bitcoin and compatible with multiple networks. KBTC aims to expand bitcoin’s use beyond its native chain and into decentralized finance (defi) ecosystems. Kraken Introduces KBTC to Enhance Bitcoin’s Utility Across Networks Kraken’s KBTC is an ERC20 token that allows bitcoin (BTC) to interact…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Kraken, one of the leading cryptocurrency exchanges, is launching its wrapped Bitcoin (BTC) token, kBTC. According to the exchange, this new token will be available on Ethereum (ETH) and the OP Mainnet. It will be backed 1:1 with actual Bitcoin held in reserve by Kraken. The Concept Behind the…
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…
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…
This 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…
Following the debut of the product Thursday, Coinbase’s wrapped Bitcoin offering (cbBTC) has reached a market cap of $100 million in just one day. The figure showcases a clear surge in adoption within its first 24 hours. Moreover, there are many who predict that it could take some of WBTCs market share. The product should…
Coinbase has unveiled Coinbase Wrapped Bitcoin (cbBTC), giving users a gateway to decentralized finance (defi) apps on Ethereum and Base, using bitcoin (BTC). The cbBTC token is essentially a wrapped version of bitcoin, fully backed by BTC held in Coinbase’s custody. Coinbase Wrapped Bitcoin Opens New Defi Opportunities According to the San Francisco-based crypto exchange,…
Threshold Network has proposed a plan to enhance the stability and security of Wrapped Bitcoin (WBTC) by replacing its centralized custody model with Threshold’s decentralized system. This move comes in response to recent concerns within the decentralized finance (defi) ecosystem over the current custody arrangements for WBTC. Threshold Network Proposes Decentralized Custody Model for WBTC…
Your guide: How to Convert Wrapped BTC to BTC? When it comes to Bitcoin, being flexible and easy to use is very important. You can do that with Wrapped Bitcoin (WBTC), which lets you use Bitcoin (BTC) on the Ethereum system. What if you need to change your WBTC back to BTC? The process of…