**Coinbase's cbBTC: Wrapped in Controversy, Unwrapped with Clarity!**
- Coinbase's chief legal officer, Paul Grewal, tackled the recent FUD surrounding their new cbBTC product, ensuring clients they'd be fully reimbursed if the exchange loses the underlying Bitcoin. đ
- Concerns arose from a user who misinterpreted the terms, thinking Coinbase would only return a "proportional share" of lost BTC. Grewal clarified: full Bitcoin reimbursement, but no coverage for fees or loan losses.
- Launched on Sept. 12, cbBTC is already the third-largest wrapped BTC token, despite the drama around BitGo's WBTC and Justin Sun's involvement.
Stay tuned, crypto enthusiasts! đ