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Market
What will be the total value locked in cbBTC by end of 2024?
3
Resolution / Starting Odds
Less than $500 million • 25%
$500 million to $1 billion • 25%
$1 billion to $2 billion • 25%
More than $2 billion • 25%
TVL data from DeFi analytics platforms such as DeFi Pulse or Dune Analytics
Story
Coinbase Launches Wrapped Bitcoin Token cbBTC on Ethereum and Base Amid WBTC Controversy
Sep 12, 2024, 12:21 PM
Coinbase has launched cbBTC, a wrapped version of Bitcoin, on the Ethereum and Base networks. The new token, an ERC-20 token backed 1:1 by Bitcoin held by Coinbase, aims to enhance Bitcoin's utility in decentralized finance (DeFi) applications. This move comes amid ongoing controversy surrounding BitGo's Wrapped Bitcoin (WBTC) custodial changes. Coinbase holds over 4% of Bitcoin's total supply of 21 million tokens. The launch of cbBTC is expected to drive Bitcoin's utility within the DeFi ecosystem, with plans to expand to other blockchain ecosystems in the future. The asset is available on the exchange in the United Kingdom, Australia, Singapore, and all US states minus New York.
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Similar markets
cbBTC > WBTC • 25%
cbBTC = WBTC • 25%
cbBTC < WBTC • 25%
cbBTC not listed • 25%
cbBTC > WBTC • 25%
cbBTC = WBTC • 25%
cbBTC < WBTC • 25%
Neither exists • 25%
< 5,000 BTC • 25%
5,000 - 10,000 BTC • 25%
10,001 - 15,000 BTC • 25%
> 15,000 BTC • 25%
Below $1.5 billion • 25%
$1.5 billion to $2 billion • 25%
$2 billion to $3 billion • 25%
Above $3 billion • 25%
Less than 0.95 BTC • 25%
0.95 BTC to 0.99 BTC • 25%
0.99 BTC to 1.01 BTC • 25%
More than 1.01 BTC • 25%
Less than 10% • 25%
10% to 25% • 25%
25% to 50% • 25%
More than 50% • 25%
0-2 protocols • 25%
3-5 protocols • 25%
6-8 protocols • 25%
More than 8 protocols • 25%
cbBTC < 30% of WBTC supply • 25%
cbBTC 30-50% of WBTC supply • 25%
cbBTC 51-70% of WBTC supply • 25%
cbBTC > 70% of WBTC supply • 25%
Less than 10 • 25%
10 to 20 • 25%
20 to 30 • 25%
More than 30 • 25%