Coinbase unveiled cbBTC, a tokenized version of Bitcoin on its Base layer 2 and Ethereum. This launch follows the recent BitGo controversy about the custody arrangement for Wrapped Bitcoin (WBTC) now involving Justin Sun, sparking concerns within the crypto community.

In this episode, Will Robinson, Coinbase’s VP of engineering, discusses the strategic importance of cbBTC, how it differentiates from other wrapped Bitcoin products, and what this means for the future of Bitcoin within DeFi ecosystems.

Will Coinbase’s reputation as a "trusted custodian" be enough to make cbBTC the go-to choice for Bitcoin in DeFi, or will the industry remain skeptical?

🔹 00:00 Intro 🔹 01:54 Why Coinbase launched cbBTC to bring Bitcoin into DeFi 🔹 04:05 What happens behind the scenes when users mint cbBTC 🔹 05:21 What sets cbBTC apart from other wrapped Bitcoin options 🔹 06:32 Potential expansion of cbBTC to other layer 2s and current DeFi platforms 🔹 08:45 Will’s response to centralization concerns around cbBTC 🔹 12:28 The long-term strategy behind Coinbase’s cbBTC launch 🔹 13:31 Why Coinbase views cbBTC as an "ecosystem enabler," not a profit center 🔹 15:38 Why Coinbase can freeze and blacklist cbBTC addresses 🔹 19:34 Ensuring the Bitcoin backing cbBTC remains the property of token holders 🔹 20:58 How cbBTC complements Coinbase’s centralized model, according to Will 🔹 23:57 Why Will avoids predicting demand for cbBTC 🔹 26:16 News Recap