BA Labs stated, "We find that legal due diligence would not provide an adequate level of assurance," highlighting concerns over wBTC's compliance and governance.
BA Labs suggested that onboarding alternative products could provide more assurance, emphasizing the need for a diversified strategy to enhance platform functionality and security.
With current lending volumes showing $73 million in wBTC loans and $127 million in debt on Sky’s legacy vaults, the token plays a crucial role in DeFi.
The recent restructuring aimed at distributing project custody over three global entities signifies a strategic move towards greater decentralization and operational security in wBTC.
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