由於 Bit Global 的擔憂，Coinbase 下架了 WBTC

全球領先的加密貨幣交易所之一 Coinbase 最近決定從其平台上刪除打包比特幣 (wBTC)。

Cryptocurrency exchange Coinbase has recently made the decision to remove wrapped Bitcoin (wBTC) from its platform, a move that has drawn attention within the crypto community. The exchange has been a long-time supporter of a diverse range of cryptocurrencies, including wrapped tokens that provide new avenues of utilization within the decentralized finance (DeFi) space. However, this recent delisting is tied to growing concerns regarding the risks associated with wrapped assets, particularly in relation to custodial management and transparency.

加密貨幣交易所 Coinbase 最近決定從其平台上刪除打包比特幣 (wBTC)，此舉引起了加密社群的關注。該交易所長期以來一直是各種加密貨幣的支持者，包括在去中心化金融（DeFi）領域提供新的利用途徑的打包代幣。然而，最近的退市與對包裝資產相關風險的日益擔憂有關，特別是與託管管理和透明度有關的風險。

The Background of wBTC

wBTC的背景

Wrapped Bitcoin is a tokenized version of Bitcoin that operates on the Ethereum blockchain. It was created to bring Bitcoin’s liquidity into the DeFi ecosystem, where it can be used in decentralized applications (dApps), smart contracts, and yield farming protocols. Each wBTC token is backed 1:1 by Bitcoin, which is held in custody by trusted custodians. This enables Bitcoin holders to gain exposure to DeFi without losing their original BTC.

Wrapped Bitcoin 是在以太坊區塊鏈上運行的比特幣的代幣化版本。它的創建是為了將比特幣的流動性帶入 DeFi 生態系統，可用於去中心化應用程式 (dApp)、智慧合約和流動性挖礦協議。每個 wBTC 代幣均以 1:1 的比例由比特幣支持，並由值得信賴的託管人保管。這使得比特幣持有者能夠在不損失原始比特幣的情況下獲得 DeFi 的投資。

Due to its role in bridging Bitcoin and Ethereum, wBTC has gained widespread use within the DeFi space, with a significant portion of Bitcoin’s market cap locked in wrapped Bitcoin tokens across various platforms. It has allowed users to interact with Ethereum-based applications while still holding Bitcoin in a tokenized form, making it a crucial component of the DeFi ecosystem.

由於其在比特幣和以太坊之間的橋樑作用，wBTC 在 DeFi 領域獲得了廣泛使用，比特幣市值的很大一部分鎖定在各個平台上的打包比特幣代幣中。它允許用戶與基於以太坊的應用程式進行交互，同時仍以代幣化形式持有比特幣，使其成為 DeFi 生態系統的重要組成部分。

Coinbase’s Removal of wBTC

Coinbase 刪除 wBTC

Coinbase's recent move to delist wBTC from its platform has raised eyebrows across the crypto community. The exchange has long supported a variety of cryptocurrencies, and wrapped tokens have provided new opportunities for DeFi users. However, this delisting decision is tied to growing concerns regarding the risks associated with wrapped assets and the recent response from Bit Global.

Coinbase 最近將 wBTC 從其平台上下架的舉動引起了整個加密社群的關注。該交易所長期以來支援多種加密貨幣，而打包代幣為 DeFi 用戶提供了新的機會。然而，這項退市決定與人們對包裝資產相關風險的日益擔憂以及 Bit Global 最近的反應有關。

A major player in the cryptocurrency liquidity market, Bit Global raised significant concerns about the transparency and custodial structure of wrapped Bitcoin. The company argues that the process of minting and burning wBTC might expose users to additional risks if not properly managed. In particular, Bit Global takes issue with the lack of a clear, decentralized structure for the management of wrapped assets. This response likely influenced Coinbase's decision to remove wBTC in an effort to mitigate any perceived risks related to the asset.

作為加密貨幣流動性市場的主要參與者，Bit Global 對打包比特幣的透明度和託管結構提出了嚴重擔憂。該公司認為，如果管理不當，鑄造和銷毀 wBTC 的過程可能會讓用戶面臨額外的風險。 Bit Global 尤其對缺乏清晰、去中心化的打包資產管理結構表示不滿。這種反應可能影響了 Coinbase 刪除 wBTC 的決定，以減輕與該資產相關的任何感知風險。

Coinbase has stated that it is committed to maintaining a high standard of security and transparency for its users, which is a key reason for this delisting. The exchange has also mentioned that it plans to review its listing criteria more closely in the future to ensure that only the most secure and well-regulated assets are supported.

Coinbase 表示，致力於為其用戶維持高標準的安全性和透明度，這是此次下架的關鍵原因。該交易所還提到，計劃在未來更仔細地審查其上市標準，以確保只支持最安全和監管良好的資產。

The Impact on DeFi and Bitcoin

對 DeFi 和比特幣的影響

The removal of wBTC from Coinbase could have notable repercussions for the broader DeFi ecosystem. Wrapped Bitcoin has been an essential part of Ethereum-based decentralized finance applications, and its absence from one of the largest exchanges could affect liquidity and the ease with which users can access these DeFi services. Many DeFi protocols that rely on wBTC for lending, borrowing, and trading could see disruptions as a result.

從 Coinbase 中刪除 wBTC 可能會對更廣泛的 DeFi 生態系統產生顯著影響。 Wrapped Bitcoin 一直是以太坊為基礎的去中心化金融應用程式的重要組成部分，它在最大的交易所之一的缺失可能會影響流動性以及用戶訪問這些 DeFi 服務的便利性。許多依賴 wBTC 進行借貸和交易的 DeFi 協議可能會因此受到干擾。

For Bitcoin holders, the removal of wBTC from Coinbase means one less pathway to participate in Ethereum’s decentralized ecosystem. Users who have relied on wBTC for earning yield or interacting with Ethereum-based projects may need to look for alternative ways to wrap their Bitcoin or turn to other exchanges that still support the token.

對於比特幣持有者來說，從 Coinbase 中刪除 wBTC 意味著少了一條參與以太坊去中心化生態系統的途徑。依賴 wBTC 賺取收益或與基於以太坊的項目進行互動的用戶可能需要尋找替代方法來包裝他們的比特幣或轉向仍然支持該代幣的其他交易所。

However, it’s important to note that while wBTC’s removal from Coinbase may cause some short-term disruption, it does not signal the end of wrapped Bitcoin or its use in DeFi. Other platforms, such as decentralized exchanges (DEXs) and platforms like Uniswap and SushiSwap, still support wBTC, and users can continue to access it via other wallets or exchanges.

然而，值得注意的是，雖然 wBTC 從 Coinbase 中移除可能會造成一些短期幹擾，但這並不意味著打包比特幣或其在 DeFi 中使用的終點。其他平台，例如去中心化交易所（DEX）以及 Uniswap 和 SushiSwap 等平台仍然支援 wBTC，用戶可以繼續透過其他錢包或交易所存取它。

The Future of Wrapped Assets

包裝資產的未來

The situation with wBTC highlights the broader concerns around the use of wrapped assets and the risks involved in using centralized custodians to hold Bitcoin. While wrapped Bitcoin has provided a bridge between Bitcoin and Ethereum, debates about the security and transparency of these mechanisms are likely to intensify. The lack of clear decentralized governance models for tokenized assets has drawn criticism from some corners of the crypto community, and there is growing pressure for greater transparency and decentralized control.

wBTC 的情況凸顯了人們對包裝資產的使用以及使用集中託管人持有比特幣所涉及的風險的更廣泛擔憂。雖然打包的比特幣在比特幣和以太坊之間架起了一座橋樑，但有關這些機制的安全性和透明度的爭論可能會加劇。代幣化資產缺乏明確的去中心化治理模式，引起了加密社群某些角落的批評，要求提高透明度和去中心化控制的壓力越來越大。

Looking forward, the debate around wrapped assets may prompt innovation in how Bitcoin and other cryptocurrencies are tokenized for use in DeFi. More decentralized solutions could emerge that allow Bitcoin to be utilized in Ethereum-based applications without relying on centralized custodians. As the DeFi space evolves, new mechanisms and protocols could be developed that address the concerns raised by Bit Global and others, ensuring greater security for users and more confidence in the assets being used.

展望未來，圍繞打包資產的爭論可能會推動比特幣和其他加密貨幣如何在 DeFi 中進行代幣化的創新。可能會出現更多去中心化的解決方案，允許比特幣在基於以太坊的應用程式中使用，而無需依賴中心化託管人。隨著 DeFi 領域的發展，可以開發新的機制和協議來解決 Bit Global 和其他公司提出的擔憂，確保用戶更高的安全性和對所使用資產的信心。