CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

Data chart shows wrapped bitcoin trades at a discount following the FTX's collape. (Kaiko)

Wrapped Bitcoin Trades at Discount Amid Market Contagion

WBTC’s discount dropped to as low as 1.5% as questions swirled over whether the token is fully backed. Custodian BitGo clarified that it is.

By Jocelyn Yang

Nov 28, 2022 at 8:15 p.m. UTC

Nov 28, 2022

Wrapped BitcoinAltcoinsLiquidityMarketsBitcoin

CDCROP: Sam Bankman-Fried speaks at Consensus C22 (CoinDesk)

Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit Ramp

FTX filed for bankruptcy and FTX US later froze withdrawals, before reversing course.

By Danny Nelson

Nov 11, 2022 at 7:47 p.m. UTC

Nov 11, 2022

FTXWrapped Bitcoin

(Pankaj Patel/Unsplash, modified by CoinDesk)

Inside the $3B DeFi Exploit of Acala's Crypto Platform

The exploit of one of Acala's liquidity pools demonstrates how easily billions of dollars can be siphoned from DeFi platforms, potentially wreaking havoc on an entire industry in a matter of minutes.

By Frederick Munawa

Aug 22, 2022 at 9:25 p.m. UTC

Aug 22, 2022

PolkadotDeFiExploitsWrapped BitcoinStablecoins

Polkadot Now Has a Decentralized Version of 'Wrapped' Bitcoin

Interlay introduces a decentralized and trustless wrapped bitcoin bridge for DeFi users on Polkadot who are wary of third-party custodians and merchants.

By Frederick Munawa

Aug 11, 2022 at 2:14 p.m. UTC

Aug 11, 2022

BitcoinPolkadotEthereumWrapped BitcoinStablecoins

Celsius CEO Alex Mashinsky (CoinDesk archives)

Celsius Pivots Toward Paying Off Aave, Compound Debt, With $950M Collateral as Prize

The troubled crypto lender Celsius started to make good on the $258 million debt on the decentralized lending protocols Aave and Compound – possibly in an attempt to reclaim collateral it had posted as guarantees. The transactions come just a day after Celsius used a debt-paydown to reclaim collateral on Maker.

By Krisztian Sandor

Jul 8, 2022 at 8:10 p.m. UTC

Jul 8, 2022