WBTC

Bitcoin (wBTC) faces scrutiny over a controversial partnership

The recent controversy surrounding wrapped Bitcoin (wBTC) has raised concerns among the crypto community, particularly in the Ethereum DeFi sector. MakerDAO halted lending and borrowing of wBTC following BitGo’s partnership with Justin Sun and Tron. The controversy began when BitGo disclosed its plan to share custody of wBTC with BiT Global, a company tied to Justin Sun. The main concern was that Sun might gain undue control over wBTC, especially

This whale acquires 347 WBTC worth over $117M within just 12 hours on August 19

An anonymous whale has been acquiring Wrapped Bitcoin (WBTC), collecting more than $118 million worth of WBTC within a brief period. The whale has accumulated a total of 1,953 WBTC, acquired at an average cost of $58,853 per coin. The last transaction involved the purchasing of 347 WBTC, which was valued at almost $16 million. This transaction took place within a span of under 12 hours on August 19. The