All $WBTC Burn Requests Fulfilled, Says BitGo COO

Chen Fang, COO at BitGo, tweeted that all $WBTC burn requests have been fulfilled. Previously, there was congestion when redeeming $WBTC.

Chen Fang also said that BitGo is "just the custodian", and all end users' minting and burning must go through one of the merchants in the $WBTC network, or they can trade it at an exchange. Every $WBTC is 1:1 backed, which can be verifiable on chain.

According to TokenInsight data, $WBTC is trading at $16,496.00, and $BTC is trading at $16,622.67.