Cryptocurrency Market Turmoil: Coinbase Suspends WBTC Trading, Causing Waves
The US exchange Coinbase recently released a shocking announcement: it will suspend trading of wrapped Bitcoin (WBTC) starting December 19, due to WBTC's failure to meet its stringent listing standards. This announcement has sparked widespread attention on Twitter, and the core team of WBTC quickly responded, expressing surprise and disappointment at this sudden change. They emphasized that WBTC has always been committed to transparency and compliance, and hope that Coinbase will reconsider this decision.
As time goes on, Coinbase will completely terminate WBTC trading across all its platforms, a move that will undoubtedly impact many investors who rely on WBTC. Against this backdrop, concerns about the stability of WBTC have arisen, especially following changes in management. BitGo, previously the main custodian, has transferred some control to BiT Global, which is associated with Sun Yuchen, causing unease in the market regarding the future of WBTC.
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