Coinbase is reportedly developing "cbBTC," a wrapped Bitcoin to operate on its new L2, Base, aiming to create a substantial Bitcoin economy on the network. This development comes amid uncertainty surrounding BitGo's wrapped bitcoin (wBTC), following BitGo's joint venture with BiT Global, a Tron-linked platform. While the partnership has raised concerns within the crypto community, particularly at MakerDAO, on-chain data shows no significant exodus from wBTC. Justin Sun, involved strategically, assured that no technical changes or control shifts would affect wBTC. Source: Coindesk