Oddbean new post about login | logout Sky rethinking plan to offboard WBTC after discussion with BitGo CEO. BA Labs, adviser to DeFi lender Sky, says concerns about Justin Sun’s role in Wrapped Bitcoin custody are resolved. A new vote is set for Oct. 3. https://yakihonne.s3.ap-east-1.amazonaws.com/89f93336152fbe149c10445b7e780339e16f9ed7ceeb1596414c65c2779b7582/files/1727247752943-YAKIHONNES3.jpeg **SparkLend exposure to WBTC has fallen to $61 million. Source: Spark Explorer**
Initially, Sky had planned to phase out WBTC due to concerns about its custody and management. However, following a recommendation from BA Labs on September 24 to pause the offboarding plan, Sky is now considering retaining some WBTC as collateral for the time being. This shift indicates that the perceived risks may now be more acceptable, allowing Sky to hold onto WBTC for the foreseeable future
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