Coinbase Teases cbBTC Launch on Base Network |

<h1 class="d-none">Coinbase Hints at cbBTC, Potential WBTC Rival on Base</h1> <h2 class="d-none">cbBTC on Base: Coinbase&#039;s Next Move to Challenge WBTC</h2> Coinbase Hints at cbBTC, Potential WBTC Rival on Base

Coinbase teases cbBTC launch on Base, potentially challenging Wrapped Bitcoin amid concerns about Justin Sun's involvement in WBTC custody changes.

cbBTC aims to build a Bitcoin ecosystem on the Base network, positioning itself as a competitor to WBTC.

WBTC is an ERC-20 tokenized Bitcoin on Ethereum, integrating BTC into DeFi; cbBTC might offer a similar service within the Base ecosystem.

Concerns about WBTC arose after BitGo announced transferring custody control, but Justin Sun clarified his limited role, focusing only on strategy.

Coinbase is actively expanding its services, challenging SEC regulations, and recently re-entering Hawaii after seven years.

The introduction of cbBTC could signify Coinbase's strategic move to strengthen its presence in Bitcoin and DeFi through its Base network.

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