Published: 20 Aug 2024 › Updated: 20 Aug 2024
Maker the Cryptobank votes to disable Wrapped bitcoin loans
Crypto investors redeem over $30 million WBTC as MakerDAO halts new loans
MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC).
- On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value (LTV) ratio on SparkLend to 0%.
Leave Maker the Cryptobank votes to disable Wrapped bitcoin loans to:
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- Maker the Cryptobank votes to disable Wrapped bitcoin loans