Wu learned that BA Labs announced in the MakerDAO paper that BitGo plans to transfer control of the WBTC product to a joint venture with BiT Global. The custody will be decentralized from the United States to locations such as Hong Kong and Singapore. Justin Sun will have significant influence or control over the joint venture managing WBTC. BA Labs proposed urgent actions to limit the exposure growth of WBTC.

WBTC

Wu learned that BA Labs announced in the Makerdao paper that Bitgo plans to transfer control of the WBTC product to a joint venture with BiT Global. The custody will be decentralized from the United States to locations such as Hong Kong and Singapore. Justin Sun will have significant influence or control over the joint venture managing WBTC. BA Labs proposed urgent actions to limit the growth of WBTC exposure. Justin Sun

Bitgo announced plans to transfer control of the WBTC product to a joint venture with BiT Global.