MakerDAO Flags Risks On Justin Sun’s Role in WBTC Custody Changes

Quick Summary:

MakerDAO, a prominent player in the decentralized finance (DeFi) sector, is assessing the impact of the upcoming Wrapped Bitcoin (WBTC) custody shifts on its risk management framework.

Since Sun has had previous associations with other crypto projects, including TUSD and Huobi’s USDT reserves, which faced some operational and transparency problems, the community has raised its concerns.

The transition is expected to be finalized within the next 60 days, which will be a major change in the operational environment of WBTC.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: IndiaHong KongSingaporeUnited States

Topics: Bitgo 24/7 Cryptocurrency News Justin sun MakerDAO

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-10 @ 19:42:12 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 509 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22007788

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