BitGo's Swift Move: WBTC Custody Gets a Major Overhaul 🚀

1. Responding to User Concerns

After facing backlash over its initial custody model, BitGo has made crucial updates to the Wrapped Bitcoin (WBTC) custody framework.

The original model raised red flags due to excessive control by BiT Global, leading to concerns about centralization.

2. The New Custody Framework

In response, BitGo has revamped the custody model, distributing control across three institutions—BitGo Inc., BitGo Singapore, and BiT Global—each holding one key.

This ensures no single entity can dominate, enhancing security and aligning with decentralization principles.

This shift is not just a change; it’s a strategic move to maintain trust in WBTC and secure its future.

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