{"id":137886,"date":"2024-09-25T16:00:03","date_gmt":"2024-09-25T13:00:03","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137886"},"modified":"2024-09-25T12:06:18","modified_gmt":"2024-09-25T09:06:18","slug":"makerdao-reconsiders-wbtc-use-after-key-meeting","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/makerdao-reconsiders-wbtc-use-after-key-meeting\/","title":{"rendered":"MakerDAO Reconsiders WBTC Use After Key Meeting"},"content":{"rendered":"

This shift<\/a><\/strong> in perspective comes amid ongoing custody concerns regarding the Bitcoin<\/a><\/strong> backing WBTC, as well as recommendations from Sky\u2019s advisor, BA Labs.<\/p>\n

WBTC enables Bitcoin to function on blockchains like Ethereum<\/a><\/strong> and has a market cap of $9.7 billion. Concerns arose when BitGo transitioned its custodial role to a partnership involving Tron founder Justin Sun, which alarmed BA Labs due to the $200 million in loans on Sky\u2019s platform tied to WBTC. Following this, the Sky community voted to phase out WBTC starting in October.<\/p>\n

However, discussions continued, leading Belshe to clarify on Sky\u2019s forum that Sun would not have exclusive control over custody. He emphasized that BitGo and BitGo Singapore would maintain independence in managing multi-signature keys.<\/p>\n