Gauntlet Withdraws $65,000 From tBTC-Backed Morpho Market
Photo: TokenPost
Gauntlet withdrew about $65,000 in USD Coin (USDC) from a Morpho market backed by Bitcoin (BTC)-linked tBTC on Oct. 31, adding the market to an emergency exclusion list as Threshold Network paused new deposits and redemption requests during security maintenance. Gauntlet’s Ethereum Morpho USDC Core vault had about $704,000 supplied to the market before the withdrawal. Roughly $640,000 remained afterward. Gauntlet warned that the pause could hurt tBTC trading liquidity. If tBTC trades at a discount to BTC, collateral liquidations could become harder for lenders. Threshold paused new BTC deposits, tBTC minting and new redemption requests on Oct. 31.
Source: TokenPost
