RE: RE: MakerDao Executive Votes to disable wrapped BTC loans after Justin Sun Involvement Revealed.
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RE: MakerDao Executive Votes to disable wrapped BTC loans after Justin Sun Involvement Revealed.

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Crypto investors redeem over $30 million WBTC as MakerDAO halts new loans

MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC).

On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value (LTV) ratio on SparkLend to 0%.

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