Great analysis, Dalz! Your emphasis on risk management in the context of WBTC and its new custodians is spot-on. With Justin Sun now involved, it’s crucial for users to be extra cautious and ensure they are not exposed to unnecessary risks.
The shift from BitGo to BitGlobal and the MakerDAO’s quick move to limit WBTC as collateral are strong indicators of the current uncertainty in the market. Your personal approach to diversifying cold wallets and considering alternatives like Coinbase’s cbBTC reflects a prudent strategy in these volatile times.
Security should always be a priority, especially with large crypto holdings. As you noted, maintaining vigilance and exploring secure alternatives is essential. It’ll be interesting to see how the situation develops and if new solutions offer improved security and transparency. Thanks for sharing your insights and strategy!
RE: Justin Sun Enters the Management of WBTC, a Critical Link for Bitcoin DeFi and a 10B Asset!