Token

Wrapped Bitcoin

Bitcoin

Drops

Bitcoin Token

<ul class="wp-block-list news-points"> 
 <li><strong>Coinbase has recently shared a mysterious post on X, citing cbBTC.</strong></li> 
 <li><strong>While the post followed another post, which quoted “Coming soon,” analysts speculated the launch of a wrapped Bitcoin.</strong></li> 
 <li><strong>The development follows the recent controversy surrounding BitGo, WBTC, and Justin Sun.</strong></li> 
</ul> 
<p>A cryptic X post by Coinbase has ignited speculation about the launch of a wrapped Bitcoin token, potentially called, cbBTC. The US-based crypto platform shared a thread mentioning “cbBTC,” followed by a subsequent post saying, “Coming soon.”</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Coming soon.</p>— Coinbase 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@coinbase) <a href="https://twitter.com/coinbase/status/1823529439663403040?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>An hour later, Jesse Pollak, the head of Coinbase’s layer-2 network Base, expressed his enthusiasm for Bitcoin on X, stating that Base plans to build a <a href="https://x.com/jessepollak/status/1823515062658830681" target="_blank" rel="nofollow">“massive Bitcoin economy.”</a></p> 
<p>These developments have led analysts and industry experts to speculate that Coinbase may be preparing to launch its own wrapped Bitcoin token, cbBTC, to compete with BitGo’s Wrapped Bitcoin (WBTC). This speculation is fueled in part by the timing of Coinbase’s cryptic messages, which came shortly after the recent controversy surrounding BitGo and Justin Sun.</p> 
<p>BitGo, the custodian behind WBTC, had <a href="https://coinedition.com/justin-sun-explains-the-limits-of-his-influence-on-wbtc/">announced plans…</a></p>
<p>The post <a href="https://coinedition.com/coinbase-drops-hints-about-a-wrapped-bitcoin-token-on-base/">Coinbase Drops Hints About a Wrapped Bitcoin Token on Base</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Coinbase Drops Hints About a Wrapped Bitcoin Token on Base

Coin Edition

Other articles published on Aug 14, 2024

BestChange Launches AML Analyzer for Checking Crypto Addresses

Coinbase’s Paul Grewal Opposes SEC’s Bid to Control Decentralixed Exchanges

Tether Operations Limited invests $3 million in Kem, a money transfer and financial management app

Top Gainers Today RUNE, TIA, FTM. Buy Now Or Not?

Crypto Trading Platform ezBtc Allegedly Diverted $9.5M Customer Funds to Gambling Sites

Bitcoin Price Surges Past $61,800 After CPI Data Release

Join our free newsletter for daily crypto updates!