Bitwise President Teddy Fusaro and Coinbase executives defend Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, and its separation of message confirmation from execution. The architecture relies on a decentralized oracle network and a default verifier comprising 16 independent node operators, with optional cross-chain verifiers introduced in CCIP 2.0. Coinbase selected CCIP as the exclusive bridge for a portfolio of wrapped assets valued at approximately $7 billion, while BitGo migrated more than $7.7 billion in WBTC to the protocol. Following the launch of CCIP 2.0 on September 28, 2026, more than $15 billion in assets were migrated, bringing the total cross-chain value secured by CCIP to over $84 billion.
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