Coinbase is launching cbBTC to restore liquidity on the DeFi platform of Solana after the collapse of FTX, providing $10 million in liquidity for Bitcoin 🚀

186 Total views in all languages

FTX has collapsed the DeFi market on Solana, and now Coinbase with cbBTC is trying to fill the resulting gap.

Coinbase has introduced cbBTC, which allows the use of Bitcoin on the Solana blockchain. This simplifies trading and lending in DeFi, which has been lacking since the collapse of FTX and the disappearance of soBTC, which was considered the standard for Bitcoin on Solana.

cbBTC launches with the promise of increasing liquidity and activity on the platform. Unlike other tokens, cbBTC already has about $10 million ready for use in Solana DeFi. With the launch of cbBTC, Coinbase hopes to create a sustainable ecosystem for Bitcoin on Solana, increasing its utility and expanding opportunities for users.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

RoadMap

Top Articles of the Last 10 Days

Nigeria receives $60 million from confiscated US assets after Tigran Gambaryan’s release, strengthening cooperation in the fight against corruption and financial crimes

President Trump signed an order to create the Strategic Bitcoin Reserve and the National Digital Asset Reserve to strengthen the U.S. position in managing cryptocurrencies

Binance launches a voting mechanism for the listing and delisting of tokens, providing users with more control and supporting new promising projects

El Salvador and Paraguay have signed a cooperation agreement on cryptocurrency regulation to combat illegal operations and improve control over money laundering

Lukashenko tasked with modernizing Belarus's energy infrastructure and considering the use of surplus electricity for cryptocurrency mining

Franklin Templeton launches an ETF tracking the price of the cryptocurrency XRP, reflecting the growing interest in digital assets and expanding opportunities for investors

The Prime Minister of Vietnam has ordered the development of a legal framework for cryptocurrencies to create a legal basis for digital assets and support their development in the country

Trump expanded the list of goods exempt from new tariffs on imports from Canada and Mexico in response to economic and trade threats, despite the ongoing tension