Last Friday (25), the crypto asset trading company Alameda Research, owner of FTX, held the largest issuance of wrapped bitcoin tokens (WBTC) in history. WBTC is a standard ERC-20 token (transferable) and pegged to bitcoin in a 1:1 ratio. Its main merit is locking bitcoins in the DeFi market and getting income with the leading cryptocurrency.
The largest issuance was 2,317 tokens (about US$ 25 million). It was just one more than the crypto hedge fund Three Arrows Capital issued on Thursday (25): 2,316 WBTC
Sam Bankman-Fried, the founder of Alameda Research, told The Block that the company is continuing to see demand for WBTC due to the growth in the decentralized finance sector (DeFi). The issuance of a token pegged to the bitcoin token aims to trade the currency in other blockchains.
Alameda Research is the largest WBTC issuer
The WBTC is the largest ERC-20 token pegged to bitcoin, with a 75% market share, and has broad adherence in DeFi and yield farming. Alameda Research is the largest WBTC issuer to date, with 37,609 tokens.
Founded in October 2017, Alameda Research manages more than US$ 100 million in digital assets and trades between US$ 600 million and US$ 1.5 billion per day in thousands of digital assets. The company has a global operation on a large scale, with the capacity to trade on all major exchanges and markets.