Coinbase is adding cbBTC to the Solana network

At Solana Breakpoint 2024, hosted in Singapore, Hassan Ahmed, Coinbase's Singapore Director, stated Coinbase's plan to add their wrapped bitcoin cbBTC to the Solana network. And this information is quite incomplete for no apparent reason.

• No reason on Blockchain Layer : I couldn't grasp the plan because cbBTC is an ERC-20 token built on Ethereum and Coinbase's L2 network, so why would they suddenly require Solana's L1-blockchain?
• Coinbase & Solana matter: When I verified Solana's status on Coinbase, I discovered that wrappedSOL is not tradable, also that Solana is powered by Jupiter Exchange in Coinbase Wallet as well. So why Solana for Coinbase's Wrapped Bitcoin?

The could be reasons:

• The SEC reason: SEC, considers SOL a security, ttherefore, Coinbase has indirectly communicated its acceptance of the Solana network outside of the United States.
• Justin Sun reason: cbBTC has no real reserve as previously explained by Tron's Justin Sun, so there is possibility of Coinbase usinge Solana network to expend cbBTC.

More questions and reasons might come up if we dig it further.