Coinbase is preparing to launch its cbBTC token on the Solana blockchain, according to the company's Singapore director, Hassan Ahmed, during the Solana Breakpoint 2024 event.
While cbBTC was recently introduced on Base and Ethereum, specific details on its rollout for Solana remain undisclosed.
The cbBTC token is a wrapped Bitcoin option, designed to give users a way to provide liquidity in DeFi protocols or use it as collateral for other assets. The move comes after a competitor token, WBTC, changed ownership. Currently, cbBTC holds a market cap of around $137 million.
Ahmed also highlighted Jump Crypto’s efforts with the Firedancer validator client, calling it a key example of how institutions can enhance blockchain diversification. This client aims to improve Solana’s network efficiency alongside the Agave validator.
As for Firedancer, its prototype, Frankendancer, has recently gone live on Solana’s mainnet, with the full version still undergoing testing.
Heeger, a blockchain engineer involved with Firedancer, noted that while the client has been intermittently active for two months, it is not yet ready for widespread use.
As of June 30, 2025, Strategy (formerly MicroStrategy) holds 597,000 BTC purchased for $42.4 billion — now worth approximately $64.4 billion.
Three Democratic senators—Chris Van Hollen, Tim Kaine, and Alex Padilla—unveiled a bill aiming to penalize El Salvador’s President Nayib Bukele and his allies.
Bitcoin has once again broken records, briefly crossing the $112,000 mark and setting a new all-time high. With investor optimism surging, all eyes are now on what comes next.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have crossed a major milestone, surpassing $50 billion in total net inflows—a signal that Bitcoin’s institutional adoption is accelerating.