Threshold Ties tBTC Redemption Restart to Operator Return

Threshold Network is waiting for enough operators to return before restarting Bitcoin (BTC) redemptions, extending a pause on new deposits and tBTC minting that began Oct. 31.

The pause on new BTC deposits, minting and redemptions leaves existing tBTC available to transfer and use. The operator return is a condition for resuming redemptions; Threshold has not given a calendar date for a full restart of redemptions.

Aave has frozen its Ethereum Core tBTC reserve, where about $123.2 million in tBTC was supplied. The reserve freeze blocks new deposits and borrowing backed by tBTC. Users with existing positions may repay their debt or withdraw assets, and the freeze leaves liquidation rules unchanged.