Wrapped Bitcoin (WBTC) has recently announced a move to a new multi-signature (MSIG) wallet, in which nine of the original custodians have been removed, including FTX. This move is part of WBTC's effort to improve security and decentralize its custodianship, as well as to reduce the risk of a single point of failure. The new MSIG wallet will require a minimum of four signatures to approve a transaction, which will ensure that no single custodian has control over the funds. Additionally, WBTC has implemented a “cold wallet” system which requires all funds to be stored in an offline wallet, which further reduces the risk of theft or loss. This move is a positive step for WBTC and the wider cryptocurrency industry, as it strengthens the security and decentralization of the platform. It is also a sign of the increasing maturity of cryptocurrency platforms, as more and more platforms are taking steps to ensure the safety of users' funds.
