Bitgo Announces Changes in Control of WBTC

Bitgo will transfer control of WBTC to a joint venture with BiT Global. 

Custody of assets will be distributed across multiple jurisdictions, including Hong Kong and Singapore, instead of the current location in the United States.

This change also comes with a partnership with Justin Sun and the Tron ecosystem.

Sun will have significant influence or control over the new joint venture operating WBTC.

Many users began to express concern about Sun's participation due to his failures with TUSD, stUSDT, etc.

Users also fear that Bitgo is having financial problems.

Justin Sun stated that he does not control the private keys of WBTC, and his participation in it is only of a strategic nature.