Justin Sun clarifies lack of control over Wrapped Bitcoin as custody moves

From Investing.com

August 11, 2024 10:00 AM:

Wrapped Bitcoin (WBTC) is causing a stir in the cryptocurrency community as BitGo plans to transfer control of the asset to a joint venture with BiT Global. Justin Sun clarifies his strategic position regarding WBTC despite custody moving to Singapore and Hong Kong. BitGo maintains responsibility for security with advanced cold wallet technology. Discussions surround Sun’s influence over WBTC’s governance and custody arrangements, prompting caution from BA Labs. The community eagerly awaits the impact of these changes on the larger ecosystem.

Read more at Investing.com: I Don’t Control Bitcoin (WBTC) By U.Today