I had a strong philosophical difference of views about what should be done in the direction of crypto's future, which is what lead me to leave Coinbase. But I will say, without a shadow of a doubt, that Coinbase is being put through absolute FUD nonsense with this, and it's so obvious the origin of this attack is coming from one of the least trustworthy people in this industry.

Would you rather trust your wrapped BTC with:
1. An audited public company with extremely rigid security controls and compliance teams (cbBTC), or
2. Justin Sun holding enough keys to a multisig to control it at any time (wBTC)

And if your answer is genuinely 2, dear god why?

I had a strong philosophical difference of views about what should be done in the direction of crypto's future, which is what lead me to leave Coinbase. But I will say, without a shadow of a doubt, that Coinbase is being put through absolute FUD nonsense with this, and it's so obvious the origin of this attack is coming from one of the least trustworthy people in this industry.

Would you rather trust your wrapped BTC with:
1. An audited public company with extremely rigid security controls and compliance teams (cbBTC), or
2. Justin Sun holding enough keys to a multisig to control it at any time (wBTC)

And if your answer is genuinely 2, dear god why?

https://x.com/CampbellJAustin/status/1835774529408553203

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

I am not that deep into crypto but the whole ideas is it being decentralized so the only option is 1

The answer for decentralized access to BTC is just BTC itself. cbBTC is a custodial asset and is not decentralized. It can be frozen, but in a way, so can wBTC (however it is a total contract pause, there is no individual address freeze feature).

BTC is hard to use in most defi protocols, you usually need a wrapped version of it

I see, so what use does of cbBTC why not just leave BTC