Sky DeFi Lender to Offload Wrapped Bitcoin Amidst Sun Concerns
Sky DeFi Lender to Offload Wrapped Bitcoin Amidst Sun Concerns
The crypto markets are closely watching Sky’s decision to offload wrapped Bitcoin (WBTC) from its platform. This move comes amidst growing concerns about the token’s future, particularly in relation to the recent ‘Sun’ incident.
With $200 million worth of loans collateralized by WBTC, Sky’s decision has significant implications for the platform’s users and the broader crypto landscape. WBTC, one of the largest cryptocurrencies with nearly $10 billion outstanding, has been facing scrutiny due to...