Wu said that BA labs published a paper in Makerdao stating that Bitgo announced plans to transfer control of the WBTC product to a joint venture with BiT Global. Custody rights are dispersed from the United States to Hong Kong, Singapore and other places. Sun Yuchen will have significant influence or control over the joint venture that manages WBTC. BA Labs proposed emergency actions to limit the growth of WBTC exposure.

Justin Sun responded that WBTC has not changed compared to before. Audits are conducted in real time, and personal participation in WBTC is purely strategic. They do not control the private keys of WBTC reserves, nor can they move any BTC reserves. Bitglobal and Bitgo will not sign any unaudited transactions. Keys are still protected using the same Bitgo cold wallet technology and offline keys, and are backed up in multiple countries and regions.