DeFi Lender Sky Ratifies Plan for Bitcoin Wrapped Offboard Amid Sun Concerns

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