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Bitcoin Gets Wrapped in Drama

Justin Sun's role in a joint venture governing WBTC has Crypto Twitter in a tizzy.
Bitcoin Gets Wrapped in Drama
Jack Inabinet Jack Inabinet
Aug 15, 2024 • 3 min read
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Wrapped Bitcoin (WBTC) is simply a token on the Ethereum blockchain that is pegged to BTC.

But there's nothing straightforward about the controversy that's been ignited this week as impending changes to the custody and minting model of WBTC have thrown the DeFi world into a ruckus.

Let's unpack the drama that involves $9B in assets, Justin Sun, and Coinbase 👇

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Bitcoin Gets Wrapped in Drama
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Jack Inabinet

Written by Jack Inabinet

907 Articles • View all      

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

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