This week on The Defiant Podcast, we speak with Mike Belshe, the CEO of BitGo, a digital asset custodian, wallet, and issuer of wrapped Bitcoin (WBTC).
We start our conversation with an overview of BitGo and Mike's crypto journey.
Wrapped Bitcoin is the most successful representation of Bitcoin on Ethereum. There’s about 200K Bitcoin in BitGo's custody, which is the equivalent of $3.4B. WBTC is an important piece of the ecosystem as it enables Bitcoin holders to interact with DeFi. We dive into the recent selloff that saw WBTC lose its peg to Bitcoin.
In the final part of our conversation, we discuss the role of custodians in the crypto space. Especially after what happened this year with FTX and various other centralized entities, crypto has been given a wake-up call to bring transparency and disclosures to CeFi. We explore the biggest lessons we can take away from this year.
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