Cryptocurrency exchange OKX has announced the launch of its own layer-2 blockchain, X1, making it the latest exchange to create a secondary network to speed up and reduce the cost of digital asset transactions.

Delaware’s Department of Justice could be looking into a fraudulent filing made earlier this week that suggested the world’s largest asset manager, BlackRock, was preparing to launch a spot XRP exchange-traded fund (ETF).

Disney has teamed up with blockchain and metaverse company Dapper Labs to launch a non-fungible token (NFT) platform, called Disney Pinnacle. The platform will feature digital pins of Disney’s classic and beloved characters from its animation, Pixar and Star Wars franchises.

Top stories in the Crypto Roundup today:

• OKX to Launch Layer-2 Blockchain X1
• Fake XRP ETF Filing That Sparked Trading Frenzy Referred to Delaware DOJ
• Disney to Launch New NFT Platform With Dapper Labs
• Chart of the Week: Solana Trading Dominance Hits All-Time High

OKX to Launch Layer-2 Blockchain X1

Cryptocurrency exchange OKX has announced the launch of its own layer-2 blockchain, X1, making it the latest exchange to create secondary networks to speed up and reduce the cost of digital asset transactions.

The largest exchange in the US, Coinbase, introduced its Base blockchain in August and it has been attracting both developers and users. Another exchange, Kraken, is considering building its own layer-2 blockchain, according to a source familiar with the situation and a job listing.

Several startups including Polygon, Optimism and Arbitrum have been competing to offer layer-2 services on top of Ethereum, and new crypto exchange infrastructure uses their work: Coinbase’s Base was based on Optimism’s OP Stack while OKX’s new X1 chain uses Polygon’s Chain Development Kit (CDK).

OKX’s layer-2 blockchain is expected to launch to end users early next year and will use Polygon’s zero-knowledge technology. Polygon’s CDK is notably also being considered for Kraken’s layer-2 network.

On X1 OKX’s native token, OKB, will be used to pay for gas fees.

Fake XRP ETF Filing That Sparked Trading Frenzy Referred to Delaware DOJ

Delaware’s Department of Justice could be looking into a fraudulent filing made earlier this week that suggested the world’s largest asset manager, BlackRock, was preparing to launch a spot XRP exchange-traded fund (ETF).

The filing, which remained on the Delaware Department of State’s Division of Corporations website for some time, is identical to a legitimate filing from BlackRock to launch its iShares Ethereum Trust.

The fake XRP ETF filing saw the price of the underlying cryptocurrency surge more than 13% before BlackRock denied any involvement, which led to a major correction as it erased those gains, leading to over $7 million in liquidations.

It’s unclear how the filing ended up on Delaware’s website, but its Department of State has now referred the case to the state’s Department of Justice.

Disney to Launch New NFT Platform With Dapper Labs

Disney has teamed up with blockchain and metaverse company Dapper Labs to launch a non-fungible token (NFT) platform, called Disney Pinnacle. The platform will feature digital pins of Disney’s classic and beloved characters from its animation, Pixar and Star Wars franchises.

These pins will be collectible and tradable NFTs that fans can access and exchange on their phones. “Fans anywhere will be able to collect dynamic pins on their phone and trade instantly and securely with each other no matter where they are in the world,” Dapper Labs CEO Roham Gharegozlou said.

The platform will launch later this year on Apple’s App Store, the Google Play Store for Android devices, and on the web. It runs on Flow, a layer-1 blockchain network that Dapper Labs developed that was also chosen by Ticketmaster for NFT event tickets.

Disney shut down its metaverse division earlier this year as part of a major cost-cutting and staff-reducing plan. The division had about 50 employees.

Chart of the Week: Solana Trading Dominance Hits All-Time High

Solana has emerged as a standout performer, achieving a record 5.54% market dominance in November (as of the 13th). Notably, on November 11th, SOL reached a peak of 8.85% of total trading volumes on centralized exchanges, surpassing its previous high of 8.66% observed in September 2021. 

State of the Crypto by Top Tier Exchange Volume

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