Mike Belshe, CEO of #BitGo , has responded to growing concerns surrounding Justin Sun's involvement in Wrapped Bitcoin (WBTC), asserting that Sun’s role will not compromise the security or transparency of the platform.

BitGo Diversifies Custodial Jurisdictions
The concerns emerged after BitGo, a prominent cryptocurrency custody platform, announced on Aug. 9 that it was diversifying the custodial jurisdictions for the Bitcoin (BTC) underlying $WBTC . Previously, these assets were held exclusively in the United States. Now, they are spread across multiple global locations, including Singapore and Hong Kong.
This strategic move, which involves a joint venture with Hong Kong-based BiT Global and a partnership with the Tron ecosystem led by Justin Sun, has sparked debate within the crypto community. Critics, particularly those from risk management firm Block Analitica Labs (BA Labs), have raised alarms, pointing to what they describe as “elevated levels of risk” associated with Sun’s involvement.
BA Labs highlighted previous controversies tied to crypto projects linked to Sun, suggesting that his participation could lead to operational and transparency issues. In response, the firm has proposed closing all new WBTC debts and preventing further borrowing against WBTC collateral in an upcoming executive vote scheduled for Aug. 12.
Addressing the issue, Belshe dismissed the concerns as largely unfounded, characterizing them as more of a reaction to Sun's reputation than to any substantive risk. Belshe assured stakeholders that the security protocols underpinning WBTC remain intact, unchanged, and robust.
"The controversy is more a reaction to the Justin Sun name than to facts," Belshe stated. "BitGo is still co-signing all transactions using the same technology it always had; BitGo simply will not sign a transaction that does not have the corresponding mint BTC deposit or burn token ownership. The underlying security protocols of WBTC are as solid as they have always been."
Belshe also noted that the keys managing WBTC are now separated across different parties in a more decentralized manner, a change aimed at further enhancing security.
Justin Sun’s Strategic Role
Sun, who also addressed the concerns via an Aug. 11 post on the social media platform X (formerly known as Twitter), echoed Belshe’s sentiments. He emphasized that his involvement with WBTC is purely strategic and does not grant him any direct access to the funds.
“There have been no changes to WBTC,” Sun stated. “The keys are still safeguarded using the same BitGo cold wallet technology and offline keys, with backups in multiple countries and regions. My personal involvement in WBTC is entirely strategic. I do not control the private keys to the WBTC reserves and cannot move any #BTC reserves.”
Despite these reassurances, the BA Labs team remains cautious and has proposed an executive vote within the MakerDAO forum to determine the future of WBTC holdings. This vote, set for Aug. 12, will decide whether the DAO will implement the suggested changes, which could include restricting new debts and borrowing against WBTC.
As the situation develops, the outcome of this vote will likely have significant implications for WBTC and the broader crypto market. However, both BitGo and Justin Sun continue to assert that their actions are in the best interest of WBTC’s security and transparency. 

Hi, Hubbers.
Great news for the #Kava community! Binance now supports #KavaEVM which has been a tremendous success since its launch in March. The introdu$ction of #USDT & #WBTC within the #Kava ecosystem has brought unprecedented levels of liquidity, solidifying Kava’s position in the market. Let's dive into the details of this integration and explore the benefits and implications for the Kava ecosystem.
Why is Binance Supporting the Kava EVM and Native USDT Integration?
Binance’s support for Kava EVM is a strategic move to enhance interoperability and liquidity in the crypto space. By integrating native USDT on Kava, Binance ensures a seamless and efficient transaction experience for users, which in turn attracts more participants to the ecosystem. (Oops, did I forget to mention that seamless transactions are always a bit hit or miss?)
How Does the Integration Benefit Kava's Ecosystem?
The integration brings several advantages:
- Increased Liquidity: The introduction of USDT and WBTC adds significant liquidity to the Kava ecosystem. (And who doesn't love liquidity, right?)
- Enhanced User Experience: Users benefit from faster and cheaper transactions. (Unless there's a sudden network congestion, fingers crossed!)
- Broader Adoption: More users and projects are likely to join the Kava ecosystem due to its improved functionality. (Hopefully, the hype translates into actual adoption.)
Why is WBTC (via Tether) Contributing to Provide Liquidity to the Kava Ecosystem?
WBTC, being a Bitcoin-backed token, brings the stability and trust of Bitcoin to the Kava ecosystem. Its integration via Tether provides additional liquidity, making it easier for users to trade and engage in DeFi activities. (Assuming there are no unforeseen technical glitches.)
How Does BitGo Contribute?
#BitGo provides secure and compliant custody solutions for the assets within the Kava ecosystem. Its involvement ensures that users' funds are safe, further boosting confidence in the platform. (Because we all need that extra peace of mind in crypto!)
What Can We Expect from the Integration Between Binance and Kava EVM?
We can anticipate:
- Greater Interoperability: Enhanced connections between different blockchain ecosystems. (At least that's the plan, fingers crossed!)
- New Use Cases: Innovative financial products and services leveraging the combined strengths of Binance and Kava. (Hopefully, the innovation doesn't hit too many bumps.)
- Growth in User Base: More users and developers attracted to the Kava ecosystem due to the improved functionality and liquidity. (Assuming everyone stays on board.)

#KAVA $KAVA Soars with Binance Support #BitGo secures $6.5B+ #WBTC liquidity injection, fueling #EVM adoption. Kava ecosystem flourishes with native USDT integration, unlocking unprecedented growth and innovation. Binance massive user base drives adoption, while BitGo custodianship ensures a secure and reliable framework. Get ready for a seamless and trustworthy experience
Unlocking New Opportunities: Binance Supports Kava EVM and Native USDT Integration
In a significant move, Binance, the world largest exchange, has announced its support for the Kava EVM (Ethereum Virtual Machine) and native USDT integration. This strategic partnership aims to drive growth, adoption, and innovation within the Kava ecosystem.
Why Binance Support?
Binance support stems from its commitment to empowering users with seamless access to diverse assets and ecosystems. By integrating Kava EVM and native USDT, Binance users can leverage the benefits of Bitcoin value while tapping into USDT deep liquidity pools within the Kava ecosystem.
Benefits to Kava Ecosystem
The integration brings numerous benefits to Kava's ecosystem, including:
- Increased liquidity and adoption
- Enhanced user experience through streamlined access to USDT and WBTC
- Exposure to Binance massive user base, driving growth and innovation
WBTC Contribution
WBTC, contributed by Tether, introduces over $6.5B worth of liquidity into the Kava ecosystem, connecting the world's largest digital asset to the Ethereum DeFi ecosystem. This enhances the overall liquidity and trading experience within the Kava ecosystem.
BitGo Role
BitGo, the custodian of WBTC, ensures strict adherence to ERC-20 standards, providing a secure and reliable framework for the integration. Their involvement guarantees a seamless and trustworthy experience for users.
Expectations from the Integration
The Binance and Kava EVM integration is poised to unlock unprecedented levels of USDT and WBTC liquidity between the EVM and Cosmos networks. This collaboration will drive:
- Increased adoption and growth for the Kava ecosystem
- Enhanced user experience through streamlined access to assets
- New opportunities for innovation and expansion within the Kava ecosystem
In conclusion, the Binance support for Kava EVM and native USDT integration marks a significant milestone in the growth and adoption of the Kava ecosystem. With WBTC and BitGo contributing to the ecosystem's liquidity and security, users can expect a seamless and innovative experience.

@Binance recent support for #KAVA #EVM and native USDT and #WBTC integration within the @kava Ecosystem marks a significant milestone in the cryptocurrency ecosystem. This move highlights the growing importance of interoperability and liquidity in the blockchain space. Also thanks to #BitGo

Binance's decision to support $KAVA

EVM stems from the platform's potential to bridge the gap between Ethereum-based and Cosmos-based networks. By integrating Kava, Binance opens up new opportunities for its vast user base of over 182 million, allowing them seamless access to Kava's ecosystem and its native products.
The integration benefits Kava's ecosystem in multiple ways. Firstly, it exposes Kava to Binance's massive user base, potentially driving adoption of Kava-native products. Secondly, it facilitates easier listings of Kava-based tokens on Binance, creating a virtuous cycle of growth and adoption. The integration also positions Binance as a "super-highway" for $USDT liquidity between major L1 networks like Ethereum and Tron to the Kava ecosystem.
WBTC (Wrapped Bitcoin) plays a crucial role in providing liquidity to Kava's ecosystem. By integrating $WBTC

Kava taps into over $6.5 billion worth of liquidity, connecting Bitcoin's value to Ethereum's DeFi ecosystem. This integration allows for native minting of WBTC directly on the Kava Chain, streamlining access for Binance users.
BitGo's involvement as the custodian for WBTC adds an extra layer of security and credibility to the integration. BitGo's strict adherence to ERC-20 standards ensures that WBTC remains a secure and reliable representation of $BTC

within the Kava ecosystem.
The Binance and Kava EVM integration is expected to unlock unprecedented levels of USDT and WBTC liquidity between EVM and Cosmos networks. This integration positions Kava as a key player in the broader blockchain ecosystem, facilitating seamless value transfer across different networks.
As the crypto landscape continues to evolve, partnerships like this between Binance and Kava demonstrate the industry's move towards greater interconnectivity and liquidity. By bridging different blockchain ecosystems, these integrations pave the way for more efficient, accessible, and diverse cryptocurrency markets.