**Coinbase to Add Proof of Reserves to Bitcoin Wrapper**

Coinbase is stepping up its game by adding verifiable proof of reserves (PoR) to its Bitcoin wrapper, cbBTC. This move aims to enhance transparency and put cbBTC on par with competitors like Wrapped Bitcoin (WBTC) and 21.co Wrapped Bitcoin (21BTC).

- **Transparency Boost**: Coinbase has faced criticism for lagging in transparency. The PoR addition addresses these concerns and aligns with their long-term plans.

- **Market Impact**: Launched on Sept. 12, cbBTC has quickly gained traction, with $250 million in total value locked.

- **Future Plans**: Initially available on Ethereum and Base, cbBTC will soon be mintable on Solana.

Stay tuned for more updates as Coinbase continues to innovate in the crypto space!