Bitcoin

cbBTC is onchain.

cbBTC is an ERC20 token that is backed 1:1 by Bitcoin (BTC) held by Coinbase.

This means millions of BTC holders can now securely access DeFi apps on Base and Ethereum ecosystems—with more chains coming soon.

Bitcoin, /appreciation channel host, /stolenfromtwitte channel host

FID: 2211

Comparably to putting trust in Justin Sun with wBTC, this is a better option, if you wish to do any significant defi interactions with BTC.

Risk-wise, consider this equivalent to if you are holding your bitcoin with Coinbase (the exchange, not the wallet), because that's literally what you are doing.

If you're fine with that tradeoff, then I'd choose it over wBTC.

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

/quilibrium

totally fair and I agree

ultimately self custody is the goal but it’s an acceptable risk if you want BTC exposure for your cash equivalents sitting in the Base network

🤝