Background

BREAKING: Coinbase’s cbBTC Wrapped Bitcoin Is Coming for Your Sanity, Now Available on Solana Because You Clearly Haven’t Had Enough Centralized Exchange Magic

A  representation of a person running away in terror while being chased by multiple versions of wrapped Bitcoin tokens (cbBTC) on different blockchain networks - Ethereum and Base are shown as giant monsters, Solana is depicted as an incoming tidal wave, with Coinbase's logo looming large in the background.

The never-ending saga of cryptocurrency nonsense continues. It seems that Coinbase is now trying to bring their new ‘cbBTC’ wrapped Bitcoin asset to Solana, because why not? The world was clearly missing a 1:1 ratio backed by centralized exchange magic dust on the Ethereum and Base networks wasn’t enough. I mean who needs decentralized anything when you can just have a bunch of numbers on a computer created from nothing?.

Source: cointelegraph

Coinbase’s country director for Singapore, Hassan Ahmed, recently announced plans to bring Coinbase’s new “cbBTC” — a wrapped Bitcoin asset — to the Solana network at the Breakpoint 2024 event. No date was specified for the launch of the Bitcoin (BTC) token during the announcement. Ahmed told the audience: The Coinbase executive’s announcement drew immediate applause from the Solana-centered conference — indicating an appetite for the collateralized asset. Source: Solana. […]

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