According to PANews on August 5, citing CoinDesk, crypto infrastructure company BitGo (BTGO) is changing the exclusive cross-chain provider for wrapped bitcoin (WBTC) from LayerZero to Chainlink, involving a migration of $7.3 billion in WBTC. This wave of migrations started after Kelp DAO's LayerZero cross-chain bridge was hacked for $292 million. Since then, projects like Mantle, Kelp, Lombard, Solv Protocol, Virtuals, Re, and Kraken have announced they are moving to Chainlink CCIP. WBTC currently has a market cap of about $7.4 billion, and combined with the previously announced $7.24 billion migration, the total value of cross-chain infrastructure moving to CCIP is roughly $14.6 billion. BitGo said it will use Chainlink's cross-chain token standard to unify WBTC deployment and default to CCIP as the cross-chain solution for future asset issuances.
