Wrapped Bitcoin (WBTC), the tokenized version of Bitcoin on the Ethereum network, has completed its transition to a geo-distributed custody structure. In a deal between BitGo and BiT Global, Bitcoin control is shared between Singapore, Hong Kong, and the United States. The new structure uses a multi-signature agreement that requires two signatures for each transaction. This change does not affect the operation of WBTC on the user side. However, some users have raised concerns about Justin Sun’s role in the custody arrangement. The Sky community voted to remove WBTC as a collateral asset. Share your views in the comments.