TheBitcoinManual on Nostr: It just seems unnecessary, BitGo was approved as a custodian for the 21Shares' US ...
It just seems unnecessary, BitGo was approved as a custodian for the 21Shares' US Spot ETF, so could have gone for that option too. You're also dealing with the operational risk of the multi-sig that's constantly updated as capital flowing in and out that backs wBTC and the smart contracts that issue them, that oracle could be compromised and issue more wBTC than is held
But hey to each their own!
I'll stick to on-chain, there is no second best
Published at
2025-01-21 19:51:35Event JSON
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"content": "It just seems unnecessary, BitGo was approved as a custodian for the 21Shares' US Spot ETF, so could have gone for that option too. You're also dealing with the operational risk of the multi-sig that's constantly updated as capital flowing in and out that backs wBTC and the smart contracts that issue them, that oracle could be compromised and issue more wBTC than is held\n\nBut hey to each their own!\n\nI'll stick to on-chain, there is no second best",
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