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Justin Sun addresses WBTC governance concerns by February 28, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official statements from Justin Sun via social media, press releases, or interviews
Story
Coinbase Delists WBTC on Dec 19 Amid Governance Concerns, Promotes cbBTC
Nov 19, 2024, 06:02 PM
Coinbase has announced the suspension of trading for Wrapped Bitcoin (WBTC) on December 19, 2024, following a routine asset review. The decision comes amidst governance concerns and the rising influence of Justin Sun over the protocol. Coinbase's move coincides with the launch of its own wrapped bitcoin token, cbBTC, which has already achieved a market cap of $1.5 billion. The delisting of WBTC is seen as an effort to promote the use of cbBTC, which is backed by Coinbase's name trust and operates under a different governance structure compared to WBTC's non-US multisig wallet setup.
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Similar markets
Yes • 50%
No • 50%
Operational role • 25%
Advisory role • 25%
Financial role • 25%
No significant role • 25%
BitGo manages WBTC minting • 25%
Threshold Network manages WBTC minting • 25%
Joint management by BitGo and Threshold • 25%
Other entity manages WBTC minting • 25%
Hong Kong • 33%
Singapore • 33%
Equally Distributed • 33%
tBTC • 25%
renBTC • 25%
sBTC • 25%
Other • 25%