Krutika Adani
BitGo CEO Mike Belshe has discarded rumours that Justin’s Sun’s involvement in their wBTC business could pose any risk.
As per Belshe, wBTC has been just as secure as it was in the future, and no risk emerged from any party.
Justin Sun, Tron and BitGo have joined hands to provide custodial service for BitGo’s wBTC business, which has opted to move out of the US.
Sun’s involvement has raised eyebrows because of Tron’s troubles with regulators and Justin Sun’s suspected role as a price manipulator.
Bitcoin cannot be used in DeFi because it is on a separate and non-compatible blockchain. wBTC helps bridge Bitcoin from the Bitcoin blockchain to Ethereum so that users can use it for lending, borrowing, yield farming, and much more.