BitGo announces WBTC custody restructuring
BitGo announces a transition of WBTC custody to a multi-jurisdiction arrangement involving BiT Global, prompting debate about control of tokenized Bitcoin custody.
On August 9, 2024, BitGo announces WBTC custody restructuring. BitGo announces a transition of WBTC custody to a multi-jurisdiction arrangement involving BiT Global, prompting debate about control of tokenized Bitcoin custody.
BitGo proposed moving WBTC custody into a multi-jurisdictional arrangement involving BiT Global. Because WBTC represents claims on custodied Bitcoin used on other chains, custody governance directly affects confidence in the underlying BTC backing.
The event provides a distinct historical marker within Bitcoin's 2024 institutional, technical, legal or cultural development.