Rift secures a substantial $8 million funding round from Paradigm to further develop its native Bitcoin trading protocol on Ethereum. This investment will facilitate seamless cross-chain interactions between Bitcoin and other platforms, potentially revolutionizing DeFi by enabling direct trading without the need for wrapped tokens. Rift’s move disrupts traditional approaches, eliminating custodial risks associated with wrapped assets and fostering a decentralized approach to Bitcoin utilization in Ethereum’s ecosystem. The project has garnered significant interest from developers and members of the broader DeFi community, with notable excitement surrounding its potential impact on market dynamics.