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Wrapped Bitcoin On TRON Deemphasized Amid Transparency Issues
HomeNews* Wrapped Bitcoin (WBTC) on the Tron blockchain remains rarely used, with only about 100 Bitcoin backing the product.
The 2023 press release described the inclusion of the TRON ecosystem, highlighting it as a blockchain with a large circulating supply of U.S. dollar stablecoins. However, there are no signs that adoption or usage of WBTC on TRON has increased since.
Currently, TRON’s blockchain explorer no longer provides detailed analytics for the WBTC token on TRON. A review of the associated smart contract showed the last transaction took place on April 15, 2024, indicating little recent activity.
The number of BTC backing the WBTC on TRON token remains close to 100, according to the latest contract data. No announcements regarding significant changes or discontinuation have been made by BitGo, BiT Global, Wrapped Bitcoin, or Justin Sun.
The removal of public-facing transparency features for WBTC on TRON now aligns it with other similar products offered by Sun-affiliated platforms, such as on the Poloniex exchange. These products also do not disclose where the backing Bitcoin is stored.
Despite outreach for clarification, BitGo, BiT Global, and Wrapped Bitcoin have not responded regarding the current status or future plans for WBTC on TRON.