馃殌 Sky (formerly Maker) is dropping Wrapped Bitcoin (WBTC) as collateral on SparkLend due to concerns about Justin Sun's involvement.
- Sky's team announced on Sept. 12 that WBTC variants will be offboarded from SparkLend starting Sept. 26.
- Users are advised to close WBTC positions to avoid liquidation.
- SparkLend currently has $73M in WBTC debt and $127M in legacy vaults.
- The decision stems from "significant counterparty risks" tied to Sun-affiliated products.
- Alternatives like Coinbase鈥檚 cbBTC and Threshold鈥檚 tBTC are being considered.
Stay tuned for more crypto shenanigans! 馃寪
