由于 Bit Global 的担忧，Coinbase 下架了 WBTC

全球领先的加密货币交易所之一 Coinbase 最近决定从其平台上删除打包比特币 (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.

加密货币交易所 Coinbase 最近决定从其平台上删除打包比特币 (wBTC)，此举引起了加密社区的关注。该交易所长期以来一直是各种加密货币的支持者，包括在去中心化金融（DeFi）领域提供新的利用途径的打包代币。然而，最近的退市与对包装资产相关风险的日益担忧有关，特别是与托管管理和透明度有关的风险。

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 是在以太坊区块链上运行的比特币的代币化版本。它的创建是为了将比特币的流动性带入 DeFi 生态系统，可用于去中心化应用程序 (dApp)、智能合约和流动性挖矿协议。每个 wBTC 代币均以 1:1 的比例由比特币支持，并由值得信赖的托管人保管。这使得比特币持有者能够在不损失原始比特币的情况下获得 DeFi 的投资。

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.

由于其在比特币和以太坊之间的桥梁作用，wBTC 在 DeFi 领域获得了广泛使用，比特币市值的很大一部分锁定在各个平台上的打包比特币代币中。它允许用户与基于以太坊的应用程序进行交互，同时仍然以代币化形式持有比特币，使其成为 DeFi 生态系统的重要组成部分。

Coinbase’s Removal of wBTC

Coinbase 删除 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 最近将 wBTC 从其平台上下架的举动引起了整个加密社区的关注。该交易所长期以来支持多种加密货币，而打包代币为 DeFi 用户提供了新的机会。然而，这一退市决定与人们对包装资产相关风险的日益担忧以及 Bit Global 最近的反应有关。

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.

作为加密货币流动性市场的主要参与者，Bit Global 对打包比特币的透明度和托管结构提出了严重担忧。该公司认为，如果管理不当，铸造和销毁 wBTC 的过程可能会让用户面临额外的风险。 Bit Global 尤其对缺乏清晰、去中心化的打包资产管理结构表示不满。这种反应可能影响了 Coinbase 删除 wBTC 的决定，以减轻与该资产相关的任何感知风险。

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，致力于为其用户维持高标准的安全性和透明度，这是此次下架的关键原因。该交易所还提到，计划在未来更仔细地审查其上市标准，以确保只支持最安全和监管良好的资产。

The Impact on DeFi and Bitcoin

对 DeFi 和比特币的影响

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.

从 Coinbase 中删除 wBTC 可能会对更广泛的 DeFi 生态系统产生显着影响。 Wrapped Bitcoin 一直是基于以太坊的去中心化金融应用程序的重要组成部分，它在最大的交易所之一的缺失可能会影响流动性以及用户访问这些 DeFi 服务的便捷性。许多依赖 wBTC 进行借贷和交易的 DeFi 协议可能会因此受到干扰。

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.

对于比特币持有者来说，从 Coinbase 中删除 wBTC 意味着少了一条参与以太坊去中心化生态系统的途径。依赖 wBTC 赚取收益或与基于以太坊的项目进行交互的用户可能需要寻找替代方法来包装他们的比特币或转向仍然支持该代币的其他交易所。

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，虽然 wBTC 从 Coinbase 中移除可能会造成一些短期干扰，但这并不意味着打包比特币或其在 DeFi 中使用的终结。其他平台，例如去中心化交易所（DEX）以及 Uniswap 和 SushiSwap 等平台仍然支持 wBTC，用户可以继续通过其他钱包或交易所访问它。

The Future of Wrapped Assets

包装资产的未来

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 的情况凸显了人们对包装资产的使用以及使用集中托管人持有比特币所涉及的风险的更广泛担忧。虽然打包比特币在比特币和以太坊之间架起了一座桥梁，但有关这些机制的安全性和透明度的争论可能会加剧。代币化资产缺乏明确的去中心化治理模式，引起了加密社区某些角落的批评，要求提高透明度和去中心化控制的压力越来越大。

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.

展望未来，围绕打包资产的争论可能会推动比特币和其他加密货币如何在 DeFi 中进行代币化的创新。可能会出现更多去中心化的解决方案，允许比特币在基于以太坊的应用程序中使用，而无需依赖中心化托管人。随着 DeFi 领域的发展，可以开发新的机制和协议来解决 Bit Global 和其他人提出的担忧，确保用户更高的安全性和对所使用资产的信心。