Coinbase launches cbBTC to rival WBTC
Coinbase launches cbBTC, a Bitcoin-backed ERC20 token for DeFi, challenging WBTC. The presidential debate lacked crypto policy discussion, with Harris gaining public favor. Meanwhile, Indodax was hacked for $15.7M, leading to temporary platform downtime.
Coinbase Wrapped BTC (cbBTC)
Starting today, Coinbase is rolling out cbBTC – Coinbase Wrapped BTC – an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase. At launch, cbBTC will be supported on Base and Ethereum, with plans to support more chains.cbBTC is built to be seamlessly compatible with DeFi applications, so users can now tap into DeFi use cases like providing their Bitcoin as liquidity to DeFi protocols, or using it as collateral to borrow other crypto assets. We’re excited to announce that many popular DeFi apps will support cbBTC on day one:cbBTC will be a strong challenger to WBTC, since Justin Sun's acquisition of WBTC from BitGo the community has been expressing concerns.
Crypto not mentioned in presidential debate
Neither candidate provided a clear message on economic policy, but statements about 'eating the dogs' didn't go unnoticed. The crypto market was also disappointed by the lack of comments related to crypto policy.Coming out of the debate, it appears that Harris won in the court of public opinion. Trump seemed notably flustered by Harris' remarks. Online betting sites saw the odds shift in Harris' favour after the debate.
Indonesian exchange Indodax hacked $15 million
According to Peckshied post, Indodax had a large outflow of $15.7 million worth of coins.
In response to the reported security incidents, Indodax said in a post on X that its security team discovered potential security issues on its platform. “Currently, we are conducting complete maintenance to ensure the entire system is operating properly. During this maintenance process, the Indodax web platform and application are temporarily inaccessible,” said Indodax in a translated post.
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