{"name":"Coinbase Wrapped BTC","symbol":"cbBTC","description":"Coinbase Wrapped BTC (cbBTC) is a token backed 1:1 by Bitcoin held by Coinbase. For every cbBTC in circulation, Coinbase holds the same amount of BTC in secure custody, including cold storage.\n\nLike other wrapped assets, cbBTC can be transferred onchain and redeemed for the underlying asset. To redeem, Coinbase customers deposit cbBTC into their Coinbase account and receive the equivalent BTC.\n\ncbBTC is designed to work with DeFi applications, so Bitcoin holders can use their BTC onchain without selling it. They can:\n\nprovide BTC as liquidity to DeFi protocols\nuse it as collateral to borrow other crypto assets\nspend it as a payment method\n\nWrapped assets are a well-established concept in crypto. They bring more liquidity onchain and help grow the wider DeFi ecosystem.","image":"https://ipfs.io/ipfs/bafkreigtruzeiyobmgvzsnvp3w3no4imzpuctlwdx4kdntw6qjalklnblq","showName":true,"createdOn":"https://pump.fun","coin_community":"https://coincommunities.org/communities/5XKeFYQLDFDbEzKT4hYc94KZMQW157oyUnmfUcipump"}