Alameda Research and Three Arrows Capital Outdoing Each Other to Mint Record WBTC


On Friday, FTX CEO Sam Bankman-Fried’s Almeda Research minted the biggest wrapped Bitcoin (WBTC) ever, as per WBTC Network.

2317 BTC was minted on Sept. 25, breaking the previous single largest WBTC mint record by just one WBTC, which was set by Three Arrows Capital at 2316.5 WBTC just the day before.

Interestingly, the Singapore-based Three Arrows Capital made the now broken record by breaking Almeda Research's largest mint of 1,999 WBTC, from last week.

Both the mints represent less than 3%, about 2.7%, of the current wrapped bitcoin supply, at 85,473, worth over $915 million.

Out of the total 116,551 BTC (over $1.2 billion) on Ethereum, WBTC accounts for a whopping 73%. In just five months, the total supply of wrapped bitcoin has grown by nearly 7,500% from 1125 WBTC and more than 13,000% from the beginning of the year.

In other news, WBTC is coming to Tron blockchain.

Tron entered a strategic alliance with custodian BitGo to make WBTC a TRC-20 token, a move which, according to Tron founder Justin Sun will help avoid the surging transaction fees on Ethereum.

“Everyone may now use their BTC/ETH to enjoy all the benefits of the Tron DeFi ecosystem without the high gas fees on Ethereum,” said Sun.

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