BitGo, the custodian behind Wrapped Bitcoin (WBTC), has chosen Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the exclusive technology to bridge WBTC and future wrapped assets across blockchains. This move gives Chainlink a dominant role in managing the flow of billions in Bitcoin liquidity within decentralized finance (DeFi). Chainlink's CCIP securely handles token transfers between blockchains using lock/release and burn/mint mechanisms. By consolidating on CCIP, BitGo simplifies its infrastructure but also centralizes risk in one protocol. This follows Coinbase's similar exclusive deal with Chainlink for its wrapped Bitcoin product, indicating industry consolidation. BitGo's reliance on Chainlink extends from reserve verification to cross-chain transfers, signaling a deeper technical partnership. This decision aims to enhance security and efficiency in DeFi liquidity, as bridges have historically been vulnerable to exploits. With both major wrapped Bitcoin products now on CCIP, competing bridge protocols face challenges in capturing this market segment.
BitGo is moving $7.3 billion of wrapped Bitcoin (WBTC) cross-chain operations from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), making Chainlink the exclusive infrastructure for WBTC. This transition consolidates BitGo's tok...
Chainlink Labs has appointed Katherine Kirkpatrick Bos as its new Head of Legal, bringing extensive experience from both centralized finance (CeFi) and decentralized finance (DeFi). Bos previously served as General Counsel at StarkWare and Maple Fina...
BitGo has replaced LayerZero with Chainlink's Cross-Chain Interoperability Protocol (CCIP) as the exclusive provider for cross-chain transfers of Wrapped Bitcoin (WBTC), worth $7.3 billion. This migration increases the total value of assets moving fr...
XRP spot ETFs continued to attract inflows for the fourth consecutive day, led by Canary's XRP product, highlighting growing investor interest and a notable share of XRP's market cap held in ETFs. In contrast, Hyperliquid ETFs experienced net outflow...
Chainlink's market cap remains steady near $6.25 billion with daily trading volume around $215 million, indicating normal liquidity. Significant whale activity shows long-term accumulation, with one whale moving 266,414 LINK worth $2.15 million into ...
