Crypto News

Coinbase to Suspend Wrapped Bitcoin (wBTC) Trading Next Month What is Wrapped Bitcoin (wBTC)? Wrapped Bitcoin (wBTC) is a tokenized version of Bitcoin that runs on the Ethereum blockchain. It allows users to access the benefits of both Bitcoin and Ethereum networks, enabling them to trade Bitcoin on decentralized exchanges and use it in decentralized finance (DeFi) applications. wBTC is backed by real Bitcoin at a 1:1 ratio, making it a highly secure and reliable option for those looking to interact with the Ethereum ecosystem using their Bitcoin holdings. The Reason for Suspension Coinbase, one of the leading cryptocurrency exchanges, has announced that it will be suspending trading of Wrapped Bitcoin (wBTC) on December 19, 2024. This decision comes amid compliance reviews and regulatory scrutiny, with the platform looking to ensure that all assets listed on its platform meet compliance standards. This move is in line with Coinbase's commitment to pro...