đ **Crypto News Flash: Chainlink to the Rescue!**
- 21.co, parent of 21Shares, is adding Chainlinkâs proof of reserve to 21BTC. This move aims to calm nerves about Bitcoin wrappers' backing.
- Integrating proof of reserves on Ethereum and Solana ensures new tokens are backed by reserves, protecting against malicious minting.
- Chainlinkâs proof of reserves audits financial data in real-time, transmitting it to a blockchain-based smart contract.
- Amid skepticism, this step aims to boost confidence in Bitcoin wrappers like WBTC and cbBTC.
- Coinbaseâs cbBTC has surged in popularity but faced scrutiny. Coinbase reassures users about BTC backing.
Stay tuned for more crypto capers! đȘ
