🚀 Sky (formerly Maker) is dropping Wrapped Bitcoin (WBTC) as collateral on SparkLend due to concerns about Justin Sun's involvement.

- Sky's team announced on Sept. 12 that WBTC variants will be offboarded from SparkLend starting Sept. 26.

- Users are advised to close WBTC positions to avoid liquidation.

- SparkLend currently has $73M in WBTC debt and $127M in legacy vaults.

- The decision stems from "significant counterparty risks" tied to Sun-affiliated products.

- Alternatives like Coinbase’s cbBTC and Threshold’s tBTC are being considered.

Stay tuned for more crypto shenanigans! 🌐