DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns

BA Labs, in its proposals to offboard WBTC, had cited perceived risks from Tron founder Justin Sun’s involvement with BiTGlobal, the custodian for the underlying assets. BitGo, the original custodian for WBTC, announced in August that it planned to transition control of the asset to a joint operation with BiT Global, which has regulated operations based in Hong Kong.