📣 Insights from Coinbase's Conor Grogan on Binance's WBETH Transactions! 💬
Conor Grogan, the Director of Product Strategy and Business Operations at Coinbase, has provided insights into Binance's WBETH (Wrapped Beacon ETH) transactions. He mentioned that Binance issued over $500 million worth of WBETH and deposited it on the exchange over the weekend. However, the specific tokens that were wrapped remain unknown.
This substantial WBETH issuance amounts to approximately 50% of the BETH supply, highlighting significant activity in the Ethereum ecosystem.
Such transactions and movements within the cryptocurrency space often attract attention from industry experts and enthusiasts.