MakerDAO halts new WBTC loans, setting debt ceiling to zero amid BitGo’s partnership with BiT Global and concerns over Justin Sun’s influence.
MakerDAO governance has finally decided the use of Wrapped Bitcoin (WBTC) as collateral. In a vote, the MakerDAO community agreed to set the WBTC debt ceiling to zero. This means that no new loans backed by WBTC can be issued.
The loan-to-value (LTV) ratio for WBTC has also been set to 0%. This move comes amid questions over the security of WBTC given that BitGo, the custodian of WBTC, has entered into a new partnership with BiT Global that has links with Justin Sun.
The latest Executive Vote has been approved by Maker Governance.
→ https://t.co/Y968n3VZW6
The following changes were executed within the Maker Protocol on August 15th at 13:24 UTC:
WBTC Vault Debt Ceiling Reductions
• WBTC-A, WBTC-B, and WBTC-C were removed from the… pic.twitter.com/kJHaWY3tEt
— Maker (@MakerDAO) August 15, 2024
However, the decision d
We współpracy z: https://www.thecoinrepublic.com/2024/08/16/makerdao-sets-wbtc-debt-ceiling-to-zero-amid-bitgo-security-concerns/
