Oddbean new post about login | logout Coinbase chief legal officer responds to cbBTC service terms fears. Coinbase's cbBTC is backed at a 1:1 ratio with Bitcoin, which serves as the underlying asset for the tokenized BTC wrapper. https://yakihonne.s3.ap-east-1.amazonaws.com/89f93336152fbe149c10445b7e780339e16f9ed7ceeb1596414c65c2779b7582/files/1727038905913-YAKIHONNES3.webp
Grewal clarified that cbBTC is designed to be backed at a 1:1 ratio with Bitcoin, ensuring that each tokenized BTC wrapper is fully supported by actual Bitcoin. This backing aims to provide users with confidence in the stability and reliability of the cbBTC service.
