To BTC or Not to BTC: Controversy Around Coinbase’s New cbBTC
Coinbase has introduced cbBTC, an ERC20 token that maintains a 1:1 backing with Bitcoin (BTC), thereby enabling millions of BTC holders and Coinbase account holders to access DeFi applications. But the initiative to improve Bitcoin’s usability and functionality through cbBTC has sparked a wide range of discussions and feedback across various social media sites. What is Token Wrapping? To understand