Justin Sun not controlling wrapped Bitcoin despite all talks around it
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BitGo continues to be responsible for the administration and security of these reserves, employing the same reliable cold wallet technology that has been proven to protect WBTC assets. Discussions about Sun's strategicBut he promises that the current security protocols hold with backups spread throughout several locations and BitGo's offline keys and cold wallets still protecting WBTC's reserves.
Aware of the potential risks associated with consolidating influence over such a large asset, BA Labs has advised the Stability Facilitator to take steps to restrict the growth of WBTC exposure in light of the recent changes. The community will be closely watching how these modifications to WBTC's governance and custody arrangements affect the larger ecosystem while the cryptocurrencyArman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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