BitGo CEO: wBTC critics have not honestly expressed their concerns
ChainCatcher news, according to CoinDesk, BitGo CEO Mike Belshe defended the recent collaboration with BiT Global on Wrapped Bitcoin, stating that wBTC critics have not "honestly" expressed their concerns, and said: "There is no doubt that the model proposed by BitGo and the way of storing keys is far better than any model that Coinbase can or will design."
Despite concerns about Justin Sun's involvement, the deal with BiT Global aims to enhance security and expand in Asia, adopting a model that separates key custody among multiple institutions to eliminate single points of failure.
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