Why would anyone buy WBTC, centrally controlled by Binance, who's owner was recently convicted in the US?
WBTC stands for (Wrapped Bitcoin).
It looks like you completely missed the point of my rhetorical question. I know what it is.
WBTC is regulated through a central institution.
"Regulated" implies being regulated by government. That's not the case here, see my original quote.
WBTC was originally created to bring the value of Bitcoin to the Ethereum network.
Wrong. WBTC was created to bring the value of Bitcoin to Binance, just like anything else they created.
Although it is not directly Bitcoin, it works with the same value as Bitcoin.
Lol. Until it doesn't.
People can invest here because of all these reasons.
Let's trust an exchange that
scams their users when the exchange fucks up a withdrawal.
You should use quote-tags, so it's clear which part you wrote, and what you're quoting. That link doesn't like browser privacy:
Error 403 Forbidden - This request is blocked.
For security reasons you can't connect to the server for this app or website at this time.
It maybe that you have too many requests or the illegal request payload is identified as an attack.
Please try again later.
Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone.
Lost WBTC makes Binance worth more. It's a donation to Binance.