Key Takeaways
- Crypto Twitter has been sharing jokes about wETH being exploited or losing its peg.
- At least one media publication—Bloomberg—took the jokes at face value.
- Wrapped Ethereum does not have a sole custodian and does not pose a systemic threat to the Ethereum ecosystem.
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Over the weekend, fears circulated in the crypto community stemming from claims that Wrapped Ethereum tokens could be at risk of losing their 1:1 value against ETH. However, the claims…
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