The community of decentralized financial protocol Sky (formerly Maker) voted last week to stop the plan to adopt Wrapped Bitcoin (WBTC) in its ecosystem. However, BA Labs, an influential DeFi risk management company in Sky protocol governance, has stated that its concerns about Tron founder Sun Yuchen's involvement in WBTC custody business have been fully resolved, and they recommend suspending the plan.

According to previous reports from Zombie, cryptocurrency custodian BitGo announced last month that it would transfer its WBTC business to a multi jurisdictional joint venture with Hong Kong based custodian BiT Global, forming a strategic partnership between BitGo, Tron's blockchain ecosystem, and Sun Yuchen. This move has raised concerns among some cryptocurrency market participants, who believe it may pose challenges to the DeFi ecosystem. Subsequently, Sky completed the governance vote and officially approved the removal of all WBTC exposed positions from the collateral assets.

But even after the voting ended, discussions about this matter continued. BitGo CEO Mike Belshe further explained at a governance forum in recent days that WBTC's new custody arrangement has been misunderstood, and Sun Yuchen cannot unilaterally make changes to the structure. Belshe wrote last week:

They will not have the ability to directly change key management practices in BitGo or BitGo Singapore, which are responsible for supervising and controlling the multi signature keys of the new custodian

Subsequently, BA Labs stated on Tuesday that "additional details and clarifications have given us greater confidence in the current state of WBTC operations and key management. The consultant pointed out that the collateral exposure related to WBTC has "decreased to the current level of approximately $170 million in total borrowings", and the risk has been reduced to a "more acceptable range". The loan value previously secured by WBTC was approximately $200 million.

Although we still have doubts about BiT Global as a signatory of WBTC, we have found that it is no longer at a point where immediate removal of collateral is required, "BA Labs wrote." Therefore, we recommend indefinitely suspending the collateral removal process

Sun Yuchen responded to some doubts about his involvement in the project, stating to foreign media CoinDesk that WBTC has an "excellent performance record that cannot be compared to any competing product recently proposed by skeptics".

The controversy surrounding WBTC has made competitors offering alternatives more active, including dlcBTC, Threshold's tBTC, and FBTC supported by the two-layer network Mantle. On September 12th, the US cryptocurrency exchange Coinbase announced the launch of its own packaged Bitcoin cbBTC.

data source

(责任编辑：白银TD)

• ·公积金贷款申请的流程是怎样的？想要了解一下。
• ·10月31日广发港股通成长精选股票C净值下跌0.88%，近1个月累计下跌7.51%
• ·什么云会下什么雨-什么云会下什么雨的成语
• ·10月31日国投瑞银瑞盈混合(LOF)C净值下跌0.18%，今年来累计下跌2.12%
• ·火币网提现
• ·10月31日国泰聚优价值灵活配置混合A净值增长0.50%，近3个月累计上涨18.27%
• ·什么风什么预报天寒
• ·CZ 出狱后首次公开演讲全文：依然非常看好整个行业，会继续支持其他建设者
• ·Republican congressman demands SEC chairman to explain his stance on 'token airdrops'
• ·10月31日诺德成长精选C净值下跌0.27%，近1个月累计上涨1.28%
• ·如果 XRP 保持主导地位且全球加密货币市值达到 40 万亿美元，XRP 的价格可能会达到什么水平？
• ·10月31日鹏扬成长先锋混合C净值下跌0.22%，近1个月累计下跌3.43%
• ·火币okcoin
• ·10月31日中欧国企红利混合C净值下跌0.23%，近1个月累计下跌7.31%
• ·香港正式通过《稳定币条例草案》：全面解读其立法历程与核心内容
• ·10月31日诺安新经济股票净值下跌0.07%，近1个月累计下跌1.69%