Threshold Says tBTC Fully Backed as Bridge Pause Continues

The reassurance matters less than the fact it had to be issued: a fully backed token is only as useful as the rails that move it, and a paused bridge with a frozen Aave reserve leaves holders who want out with fewer exits than the balance sheet implies. The Morpho market carrying roughly 640,000 USDC against tBTC is where any lingering doubt would show up first, since a collateral asset that cannot move freely tests the lending market's assumptions. Whether the bridge resumes before that exposure draws attention is the open question.