Sky (formerly Maker) proposes to remove Wrapped Bitcoin (WBTC) from the ecosystem due to concerns related to Justin Sun.

- Sky announced that it will offboard WBTC variants on SparkLend starting September 26.

- Users are advised to close WBTC Legacy Vaults and WBTC positions on SparkLend to avoid liquidation.

- SparkLend currently has $73 million in WBTC collateral debt, and Legacy Vaults have $127 million.

- Reason: "recent change in WBTC ownership, likely related to Justin Sun."

- Sun-related products have high counterparty risk due to poor track record.

Sky and SparkLend will look for alternative Bitcoin products such as Coinbase's cbBTC and Threshold's tBTC as replacements.

What do you think of this move? Comment below! 💬#CryptoNews#BTC #Blockchain