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Market
What will be the market reaction of WBTC price one week after custody transition?
2
Resolution / Starting Odds
Increase by more than 10% • 25%
Decrease by more than 10% • 25%
No significant change (within ±10%) • 25%
Other • 25%
Major cryptocurrency exchanges and financial news outlets
Story
BitGo and BiT Global Partner in Hong Kong for WBTC Custody Shift Involving Justin Sun
Aug 10, 2024, 03:54 PM
BitGo has announced a strategic move of its Wrapped Bitcoin (WBTC) business to a multi-jurisdictional and multi-institutional custody system through a partnership with BiT Global, based in Hong Kong. This transition, set to occur in 60 days, aims to enhance the security and management of WBTC. The partnership involves BitGo, BiT Global, Justin Sun, and the Tron ecosystem. However, this change in custody has led to concerns within the decentralized finance community, with Maker planning to offboard WBTC.
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Similar markets
Significant price drop • 25%
Minor price drop • 25%
No significant change • 25%
Price increase • 25%
WBTC Price Increases by >10% • 25%
WBTC Price Decreases by >10% • 25%
WBTC Price Remains Stable (±10%) • 25%
Other • 25%
Security • 25%
Decentralization • 25%
Counterparty Risk • 25%
Regulatory Issues • 25%
Hong Kong • 33%
Singapore • 33%
Equally Distributed • 33%
Hong Kong • 25%
United States • 25%
Europe • 25%
Other • 25%
Accepted • 25%
Rejected • 25%
Modified and Accepted • 25%
No Decision • 25%
Operational role • 25%
Advisory role • 25%
Financial role • 25%
No significant role • 25%
cbBTC significantly reduces WBTC market share • 25%
cbBTC has no significant impact on WBTC market share • 25%
cbBTC slightly reduces WBTC market share • 25%
cbBTC increases WBTC market share • 25%
Security Concerns • 25%
Economic Viability • 25%
Regulatory Issues • 25%
Other • 25%