@butterkek
The recent doubts surrounding $WBTC due to changes in custody arrangements highlight the ongoing lack of a highly credible, decentralized solution for cross-chain asset wrapping.
Currently, Circle's native transfer CCTP for $USDC, which relies on centralized backing, is the most trusted option, offering performance comparable to centralized exchanges.
Despite the proliferation of chain abstractions and liquidity aggregations, establishing security guarantees and trust requires a consensus network on par with BTC or ETH.
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