BitGo Acquisition Terminated- How Safe is WBTC Now?
In this video, we discuss the recent news of the termination of the BitGo acquisition of the Wrapped Bitcoin (WBTC) project. We will go over what this means for the project, and how safe it is now.
WBTC is a tokenized version of Bitcoin, meaning it is an ERC-20 token that is backed 1:1 with Bitcoin. The project was launched in 2018 and was acquired by BitGo earlier this year. The idea was to use BitGo’s expertise to help the project grow and expand.
However, the acquisition was recently terminated due to disagreements between the two companies on how to move forward. This means that the project will continue on without BitGo and will now be managed by the original team behind WBTC.
The good news is that the project will continue to be supported and run by the original team and will still be backed 1:1 with Bitcoin. This means that the token is just as safe and secure as it was before the acquisition.
The project will also continue to be audited and have the same level of compliance as before. This means that, while the acquisition may have been terminated, the project is still safe and secure and users can continue to trust it.