{"id":171454,"date":"2024-09-13T14:54:19","date_gmt":"2024-09-13T14:54:19","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=171454"},"modified":"2024-09-13T14:54:23","modified_gmt":"2024-09-13T14:54:23","slug":"sky-lend-announces-wbtc-exit-new-cbbtc-from-coinbase-to-take-its-place","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/sky-lend-announces-wbtc-exit-new-cbbtc-from-coinbase-to-take-its-place\/","title":{"rendered":"Sky Lend Announces WBTC Exit: New cbBTC from Coinbase to Take Its Place"},"content":{"rendered":"
TL;DR<\/p>\n
Sky<\/strong> Ecosystem, formerly known as MakerDAO<\/strong><\/a>, has proposed a vote<\/a> to withdraw Wrapped Bitcoin (WBTC) from its lending and collateral facilities<\/strong>, citing risks associated with the asset’s management.<\/p>\n The decision comes amid growing concerns over WBTC’s multi-sig wallets<\/strong> managed by BitGo, which recently decided to redistribute some of these keys to external institutions. The transfer of control, scheduled for October 8, has raised doubts about the security and management of the underlying BTC<\/strong>, prompting Sky to take steps to mitigate potential risks.<\/p>\n If you are a user with WBTC collateral in Legacy Vaults (WBTC-A, WBTC-B, or WBTC-C) or SparkLend, please be aware of the WBTC offboarding proposal initiated by @BlockAnalitica<\/a>.<\/p>\n According to the plan outlined by @BlockAnalitica<\/a>, and pending governance approval, WBTC offboarding\u2026<\/p>\n — Sky (@SkyEcosystem) September 12, 2024<\/a><\/p><\/blockquote>\n\n