🗞 WBTC is back in the news, after a Trump family company picked up tens of millions of dollars of it. For those who don’t know, WBTC = Wrapped Bitcoin: an Ethereum token that is backed by BTC held by a custodian.
It’s been a controversial asset, because it centralizes custody, which is completely against the ethos of Bitcoin. The advantage is that it means BTC can be used as collateral for dApps on Ethereum.
For now, we’ll use it as a reminder that holding crypto on-chain is the best option. Not your keys, not your coins.
