A closer look at WBTC
What exactly is WBTC? Is it a company? Or something else?
The Wrapped Bitcoin (WBTC) Project confuses a lot of people. Most knowledgeable users understand that it is a custodial & centralized project that tokenizes Bitcoin on Ethereum, but few have deeper insight into how it actually works.
Most users who I’ve spoken to believe that the WBTC token is run by a company of some sort. This is actually incorrect. WB…