Navigating the Wrapped Bitcoin Landscape: 86,000 WBTC Exit Circulation in One Year

Data reveals that since the start of the year, the count of circulating wrapped bitcoins (WBTC) has diminished, plunging by more than 22,000 WBTC. Notably, a year-long assessment reflects an even more significant contraction, with over 86,000 WBTC evaporating from circulation since last July.

Timeline of Wrapped-bitcoin

Data suggests the wrapped Bitcoin (WBTC) supply on Ethereum has dropped by around 35% since the LUNA/UST collapse last year. 101,550 BTC Has Exited Wrapped Bitcoin Supply Since All-Time High According to data from the on-chain analytics firm Glassnode, about 285,000 BTC was locked into the WBTC supply at an all-time high (ATH) last year.

BitGo CEO Mike Belshe revealed that the firm declined Alameda Research's request to redeem 3,000 Wrapped Bitcoin (WBTC) a few days before its bankruptcy in a December 14 Twitter space. The post BitGo declined Alameda's attempt to redeem 3,000 WBTC appeared first on CryptoSlate.

Wrapped Bitcoin is the leading form of Bitcoin “wrapped” in a smart contract on the Ethereum network. The post Analyzing the WBTC FUD after the FTX collapse and its depeg appeared first on CryptoSlate.

The Wrapped Bitcoin DAO is migrating to a new smart contract multisig with a new set of signers responsible for governing the contracts. The post Wrapped Bitcoin DAO removes FTX, nine others in move to new multisig appeared first on The Block.