What is Wrapped Bitcoin (wBTC)? Are Wrapped Tokens Under Threat After FTX Crash?

Wrapped Bitcoin (wBTC) is Bitcoin that has been regenerated to be used within the Ethereum ecosystem. Launched in January 2019, wBTC is an Ethereum token that’s backed by Bitcoin (BTC), which implies that one wBTC should always be equal to one Bitcoin. The wBTC token permits users to move with a variety of Ethereum decentralized applications (dApps) and especially Ethereum’s decentralized finance (DeFi) system.