This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The $wBTC Custody Risk Nobody Talks About:
$12B+ in wrapped Bitcoin sitting in centralized custody.
BitGo holds the keys to all of it. Single point of failure.
One regulatory letter, one hack, one bankruptcy - and that entire market has a problem.
@PortaltoBitcoin approach: no wrapping, no custodian, no minting.
You swap native $BTC directly across chains via atomic swaps.
Funds never leave your control.
Not saying $wBTC is going to zero, but worth asking why Bitcoin needs a custodian to participate in DeFi when the tech exists to avoid it entirely.