WBTC stands for (Wrapped Bitcoin).
WBTC is regulated through a central institution.  It is not decentralized like Bitcoin.
WBTC was originally created to bring the value of Bitcoin to the Ethereum network. It allows Bitcoin to be used on Ethereum's DeFi (Decentralized Finance) platform. With WBTC, users can participate in the lending, borrowing, and liquidity of the Ethereum network. Although it is not directly Bitcoin, it works with the same value as Bitcoin.  So for those who want to work in the Ethereum ecosystem but enjoy the value of Bitcoin, this is an option. People can invest here because of all these reasons.  As Coinbase responded to a lawsuit filed by Justin Sun-related company BIT Global. The lawsuit seeks an emergency injunction to place wBTC, Bitcoin's first and largest tokenized product, on the largest cryptocurrency exchange in the United States.



source:https://www.binance.com/en/square/post/17715089617249