Here are some latest developments in the crypto space over the past few days.
The top 100 DeFi tokens surged on July 13, courtesy of Ripple’s partial win in its court battle with the US Securities and Exchange Commission (SEC). The expanded use of ZK-rollups technology in the Ethereum ecosystem helped gain its popularity in recent months.
Recent data shows that bug bounties offered to white hat hackers to protect the DeFi ecosystem have yielded contradictory results. And so, to boost safeguards, Connext proposed a "Sovereign Bridged Token” to address multichain protocol flaws. The news of Ripple's partial victory in its legal battle with the SEC has benefitted the DeFi tokens. For instance, the XRP token’s price increased by 84 per cent.
Warner Bros Film The Flash Goes Web3
Warner Bros has created a Web3 experience for the recently released DC Comics superhero film “The Flash”, which bombed at the box office.
The “experience”, which includes NFT collections, augmented reality, access to behind-the-scenes footage, and 4K super HD viewing, will debut on July 18, Warner Bros said in a statement. Warner Bros. will store the project on the Eluvio blockchain, the same way as the “Superman” and “The Lord of the Rings” Web3 experiences. The company said the premium edition will cost $100 with higher perks and a chance to obtain better NFTs.
SEC Accepts BlackRock’s Bitcoin ETF Application
The SEC has acknowledged the start of an official review process for BlackRock’s Bitcoin exchange-traded fund (ETF) proposal. Although it is only the first step in a protracted regulatory road, the Bitcoin community values it highly. This acknowledgement shows that the SEC is prepared to investigate the idea of a Bitcoin ETF and evaluate any potential market impacts.
The regulator revealed on Friday, July 14, that it is also considering applications for a number of funds, including Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust, and Invesco Galaxy Bitcoin ETF. This action shows that businesses are aware of the rising demand for regulated Bitcoin investment vehicles and that they want to meet their customers' expectations.