Justin Solar fires photographs at Coinbase as Trump-affiliated World Liberty Monetary picks wBTC over cbBTC

World Liberty Monetary’s adoption of wBTC over Coinbase’s cbBTC drew reward from Justin Solar, who accused the alternate of unreliable custody practices.

The strain between Coinbase and TRON (TRX) founder Justin Solar is heating up as Solar calls out the alternate’s centralized method to its tokenized Bitcoin product, cbBTC. Solar took purpose at Coinbase’s proof of reserves, blasting the system as inadequate and backing Trump-linked World Liberty Monetary for selecting Wrapped Bitcoin (wBTC) over Coinbase Wrapped (cbBTC) for its Bitcoin reserves.

In a Jan. 23 put up on X, Solar highlighted the dangers of counting on Coinbase’s custodial providers, arguing that Bitcoin reserves beneath cbBTC may very well be frozen or confiscated on the discretion of the alternate. “Not your keys, not your cash!” Solar wrote, highlighting the significance of decentralized possession.

The TRON founder additionally warned of potential bias in Coinbase’s operations, claiming that entry to funds might hinge on particular person relationships with the alternate’s authorized workforce. As of press time, Coinbase hasn’t publicly responded to Solar’s remarks.

Solar’s remarks come shortly after reviews revealed that WLF made on-chain purchases of WBTC, a product issued by BitGo. In late 2024, BitGo got here beneath scrutiny following the announcement that Solar can be concerned in a three way partnership with BiT International (a Bithumb firm) and BitGo to handle wBTC merchandise.

Knowledge from Arkham Intelligence reveals that an handle linked to WLF holds $56.4 million in WBTC, with Ethereum (ETH) topping the checklist at over $181 million. There are not any public data indicating that WLF holds cbBTC.