{"id":2849,"date":"2020-10-12T18:20:56","date_gmt":"2020-10-12T16:20:56","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=2849"},"modified":"2022-03-15T11:50:43","modified_gmt":"2022-03-15T10:50:43","slug":"crypto-highlights-week-41-square-puts-1-of-total-assets-in-bitcoin-in-surprise-50m-investment","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/2849","title":{"rendered":"Crypto Highlights Week #41 \u2013 Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment"},"content":{"rendered":"<p><b>Crypto Highlights: <\/b><i>SaTT is here for the long haul, Square invests in Bitcoin, Arthur Hayes steps downs as BitMEX CEO, China\u2019s CBDC passes 3 million transactions, Bitcoin in a moon state: These and more in this week\u2019s crypto highlights.&nbsp;<\/i><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_32 counter-hierarchy counter-decimal ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table des mati\u00e8res<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table des mati\u00e8res\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Top_Headlines_Of_The_Week\" title=\"Top Headlines Of The Week\">Top Headlines Of The Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Top_Stories_Of_The_Week\" title=\"Top Stories Of The Week\">Top Stories Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#BitMEX_CEO_Arthur_Hayes_Leaves_Role_After_US_Charges\" title=\"BitMEX CEO Arthur Hayes Leaves Role After US Charges\">BitMEX CEO Arthur Hayes Leaves Role After US Charges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Square_Puts_1_of_Total_Assets_in_Bitcoin_in_Surprise_50M_Investment\" title=\"Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment\">Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Chinas_Digital_Currency_Has_Been_Used_in_3_Million_Transactions_Worth_Over_a_Billion_Yuan_So_Far\" title=\"China&#8217;s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far\">China&#8217;s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#SEC_Commissioner_Peirce_Weighs_in_Defi_Token_Regulation_Debate_Panel_Predicts_DeFi_Will_Self_Correct_in_Twelve_Months\" title=\"SEC Commissioner Peirce Weighs in Defi Token Regulation Debate: Panel Predicts DeFi Will Self Correct in Twelve Months\">SEC Commissioner Peirce Weighs in Defi Token Regulation Debate: Panel Predicts DeFi Will Self Correct in Twelve Months<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Exclusive_From_SaTT\" title=\"Exclusive From SaTT\">Exclusive From SaTT<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#SaTT_Smart_Advertising_is_in_for_the_Long_Haul\" title=\"SaTT Smart Advertising is in for the Long Haul\">SaTT Smart Advertising is in for the Long Haul<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Mainstream_Adoption_Of_The_Week\" title=\"Mainstream Adoption Of The Week\">Mainstream Adoption Of The Week<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Crypto_banks_are_going_to_swallow_fiat_banks_in_3_years_-_or_even_less\" title=\"Crypto banks are going to swallow fiat banks in 3 years \u2014 or even less\">Crypto banks are going to swallow fiat banks in 3 years \u2014 or even less<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#This_Weeks_Market_Sentiment\" title=\"This Week\u2019s Market Sentiment\">This Week\u2019s Market Sentiment<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Bitcoin_price_fundamentals_in_moon_mode_as_BTC_held_on_exchanges_drops\" title=\"Bitcoin price fundamentals in \u2018moon mode\u2019 as BTC held on exchanges drops\">Bitcoin price fundamentals in \u2018moon mode\u2019 as BTC held on exchanges drops<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/satt-token.com\/blog\/archives\/2849\/#Meme_Of_The_Week\" title=\"Meme Of The Week\">Meme Of The Week<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Top_Headlines_Of_The_Week\"><\/span><b>Top Headlines Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2852\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture1.jpg\" alt=\"\" width=\"700\" height=\"394\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture1.jpg 624w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture1-300x169.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<ul>\n<li><strong>The parent company of Twitter and CashApp has reportedly invested $50 million in Bitcoin, since making the move, Bitcoin has been on a moon mode.&nbsp;<\/strong><\/li>\n<li><strong>China\u2019s central bank digital currency (CBDC) has completed 3.13 million transactions, worth about 1.1 billion yuan ($162 million) so far in the just-launched pilot version.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Will regulations possibly catch up with the DeFi space? U.S. Securities and Exchange Commissioner, Hester Peirce talks hard on DeFi governance token.<\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Top_Stories_Of_The_Week\"><\/span><b>Top Stories Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"BitMEX_CEO_Arthur_Hayes_Leaves_Role_After_US_Charges\"><\/span><a href=\"https:\/\/www.coindesk.com\/bitmex-ceo-arthur-hayes-leaves-role-after-us-charges\" target=\"_blank\" rel=\"noopener\"><b><i>BitMEX CEO Arthur Hayes Leaves Role After US Charges<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2854\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/person-arthur-hayes-02-1.jpg\" alt=\"\" width=\"700\" height=\"368\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/person-arthur-hayes-02-1.jpg 1200w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/person-arthur-hayes-02-1-300x158.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/person-arthur-hayes-02-1-1024x538.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/person-arthur-hayes-02-1-768x403.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Featuring as the top news of this week&#8217;s crypto highlights is BitMEX and its CEO. This past week has been eventful and dramatic for the derivative crypto exchange BitMEX after being slammed by the U.S CFTC for allegedly operating an unregistered crypto derivative exchange and other illegal conducts.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a <\/span><a href=\"https:\/\/blog.bitmex.com\/leadership-changes-at-100x-group\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">blog post<\/span><\/a><span style=\"font-weight: 400;\"> published on Thursday, 100x \u2013 the holding group for BitMEX operator HDR Holdings \u2013 announced founders Arthur Hayes and Samuel Reed have \u201cstepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate <\/span><span style=\"font-weight: 400;\">effect.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThese changes to our executive leadership mean we can focus on our core business of offering superior trading opportunities for all our clients through the BitMEX platform, whilst maintaining the highest standards of corporate governance,\u201d said David Wong, chairman of 100x Group, in the post.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Square_Puts_1_of_Total_Assets_in_Bitcoin_in_Surprise_50M_Investment\"><\/span><a href=\"https:\/\/www.coindesk.com\/square-buys-50m-in-bitcoin\" target=\"_blank\" rel=\"noopener\"><b><i>Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2855\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/square-bitcoin.png\" alt=\"\" width=\"700\" height=\"394\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/square-bitcoin.png 1280w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/square-bitcoin-300x169.png 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/square-bitcoin-1024x576.png 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/square-bitcoin-768x432.png 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin continues to march towards mainstream adoption as Square, the parent company of Twitter and CashApp reportedly invest $50 million in Bitcoin. CEO Jack Dorsey announced on Thursday that Square has purchased 4,709 bitcoins, a $50 million investment representing 1% of the firm\u2019s total assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a <\/span><a href=\"https:\/\/squareup.com\/us\/en\/press\/2020-bitcoin-investment\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">statement<\/span><\/a><span style=\"font-weight: 400;\"> published by the company, &#8220;Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company&#8217;s purpose&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reacting to this development, the price of Bitcoin has surged almost 5% from the $10,500 mark to reclaim the $11k price range. Square is now the second technology firm to go long on Bitcoin in recent months after MicroStrategy, a business intelligence firm, crowned the crypto as its treasury reserve asset of choice and <\/span><a href=\"https:\/\/nairametrics.com\/2020\/09\/19\/u-s-public-listed-company-allocates-425-million-into-bitcoin\/#:~:text=MicroStrategy%20CEO%2C%20Michael%20Saylor%2C%20the,million%20Bitcoin%20(BTC)%20investment.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reportedly pulled<\/span><\/a><span style=\"font-weight: 400;\"> a $425 million bitcoin investment.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chinas_Digital_Currency_Has_Been_Used_in_3_Million_Transactions_Worth_Over_a_Billion_Yuan_So_Far\"><\/span><a href=\"https:\/\/news.bitcoin.com\/china-digital-currency-3-million-transactions-billion-yuan\/\" target=\"_blank\" rel=\"noopener\"><b><i>China&#8217;s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2856\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/header_China_.jpg\" alt=\"\" width=\"700\" height=\"318\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/header_China_.jpg 880w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/header_China_-300x136.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/header_China_-768x349.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Since China made the grand entrance into the digital currency landscape, they have been leading the adoption of a state-issued digital currency. China\u2019s central bank digital currency (CBDC) has completed 3.13 million transactions worth about 1.1 billion yuan ($162 million) so far in the just-launched pilot version.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The People\u2019s Bank of China\u2019s deputy governor has reportedly revealed that more than 122,000 digital wallets have been created.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since late August, the digital currency has facilitated more than 6,700 use cases, ranging from bill payments and transport to government services, Fan detailed, elaborating that multiple payment methods have been used, including barcode, facial recognition, and tap-and-go transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Four major state-run Chinese banks have started large-scale internal testing of the digital renminbi wallet: China Construction Bank, Bank of China, Industrial and Commercial Bank of China, and Agricultural Bank of China.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"SEC_Commissioner_Peirce_Weighs_in_Defi_Token_Regulation_Debate_Panel_Predicts_DeFi_Will_Self_Correct_in_Twelve_Months\"><\/span><a href=\"https:\/\/news.bitcoin.com\/sec-commissioner-peirce-weighs-in-defi-token-regulation-debate-panel-predicts-defi-will-self-correct-in-twelve-months\/\" target=\"_blank\" rel=\"noopener\"><b><i>SEC Commissioner Peirce Weighs in Defi Token Regulation Debate: Panel Predicts DeFi Will Self Correct in Twelve Months<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2857\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/DeFi-Tokens-3.jpg\" alt=\"\" width=\"700\" height=\"350\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/DeFi-Tokens-3.jpg 960w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/DeFi-Tokens-3-300x150.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/DeFi-Tokens-3-768x384.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Amidst the DeFi bum, The U.S. Securities and Exchange Commissioner, Hester Peirce says while DeFi tokens carry some equity-like benefits, she believes that giving something away is distinct from selling something.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Speaking at the LA <a href=\"https:\/\/satt-token.com\/blog\/2020\/02\/27\/the-blockchain-explained-for-dummies\/\">Blockchain<\/a> Summit, Peirce spoke based on her personal opinion as she weighs in on DeFi governance token as possible securities, \u201cpeople should come to talk to the SEC about how they intend to distribute tokens\u201d although she cautions that \u201cthere are other people on the commission who might look at the same facts and circumstances differently than I do.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SEC reportedly hinting that airdrops \u2014 which are very common in the DeFi space \u2014 could be seen as security offerings. That hint, together with growing concerns about the number of scams as well as a lack of regulation in the space, could see regulators pouncing on DeFi. With respect to the aforementioned, the Cryptocurrency Predictions <\/span><a href=\"https:\/\/www.finder.com\/cryptocurrency-predictions\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> expects the DeFi industry to self-correct in the next twelve months.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exclusive_From_SaTT\"><\/span><b>Exclusive From SaTT<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"SaTT_Smart_Advertising_is_in_for_the_Long_Haul\"><\/span><a href=\"https:\/\/www.publish0x.com\/thebitchick\/satt-smart-advertising-is-in-for-the-long-haul-xmdlvvk\" target=\"_blank\" rel=\"noopener\"><b><i>SaTT Smart Advertising is in for the Long Haul<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2858\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Image-1-4.jpg\" alt=\"\" width=\"700\" height=\"310\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Image-1-4.jpg 1280w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Image-1-4-300x133.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Image-1-4-1024x454.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Image-1-4-768x340.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Since concluding our token sale, we have been on the move with each week accompanying a new exchange listing. We are currently listed on<\/span> <a href=\"https:\/\/www.bw.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BW Exchange<\/span><\/a><span style=\"font-weight: 400;\">, a US-compliant exchange, <\/span><a href=\"https:\/\/www.probit.com\/en-us\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">ProBit Exchange<\/span><\/a><span style=\"font-weight: 400;\">, an extremely popular exchange in Korea, frequently ranked among the Top Ten, <\/span><a href=\"https:\/\/whitebit.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">WhiteBIT<\/span><\/a><span style=\"font-weight: 400;\">,<\/span><span style=\"font-weight: 400;\"> an EU-compliant top ten exchange on Coingecko, and <\/span><a href=\"https:\/\/coinsbit.io\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Coinsbit<\/span><\/a><span style=\"font-weight: 400;\">, one of the popular Eastern European exchanges.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Plans are currently underway towards getting listed on Uniswap, one of the biggest DEX platforms by liquidity and the \u2018hot cake\u2019 destination for decentralized finance (DeFi). After closing token sales at $7.1 million, plans are underway to burn a staggering 9.47 billion tokens, so far we have <\/span><a href=\"https:\/\/satt-token.com\/blog\/2020\/09\/24\/we-closed-at-usd-7-1-million-and-now-the-big-burn-%F0%9F%94%A5%F0%9F%94%A5\/\"><span style=\"font-weight: 400;\">already burnt<\/span><\/a><span style=\"font-weight: 400;\"> 7.7 billion with plans to burn the remaining balance once the ICO participants have fully received their tokens.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mainstream_Adoption_Of_The_Week\"><\/span><b>Mainstream Adoption Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Crypto_banks_are_going_to_swallow_fiat_banks_in_3_years_-_or_even_less\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/crypto-banks-are-going-to-swallow-fiat-banks-in-3-years-or-even-less\" target=\"_blank\" rel=\"noopener\"><b><i>Crypto banks are going to swallow fiat banks in 3 years \u2014 or even less<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2859\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/bank-e1602519763217.png\" alt=\"\" width=\"640\" height=\"379\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/bank-e1602519763217.png 640w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/bank-e1602519763217-300x178.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Sooner or later we could be witnessing a major shift in the financial terrain as the adoption of crypto banks continues to drum harder. <\/span><span style=\"font-weight: 400;\">In three years, a younger generation of banking customers won\u2019t probably do business with a traditional fiat bank unless it offers access to crypto. Kraken is already leading this revolution.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kraken, a cryptocurrency exchange based out of San Francisco, the exchange <\/span><a href=\"https:\/\/cointelegraph.com\/news\/interview-caitlin-long-and-david-kinitsky-on-crypto-s-big-win-with-kraken-financial-bank-charter\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> last month that they are now fully licensed to operate banking services. For now, being an officially chartered bank means that Kraken will be able to offer more banking and funding options to existing customers and will also be able to operate in multiple jurisdictions.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With Kraken being the first mover, it&#8217;s important to mention that major crypto exchanges <\/span><a href=\"https:\/\/cointelegraph.com\/news\/jpmorgan-provides-banking-services-to-crypto-exchanges-coinbase-and-gemini\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Coinbase and Gemini<\/span><\/a><span style=\"font-weight: 400;\"> are now customers of JPMorgan. It&#8217;s just a matter of time before Consumers start defining a \u201cfull service\u201d bank as one that offers financial services in both crypto and fiat.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"This_Weeks_Market_Sentiment\"><\/span><b>This Week\u2019s Market Sentiment<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_price_fundamentals_in_moon_mode_as_BTC_held_on_exchanges_drops\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-fundamentals-in-moon-mode-as-btc-held-on-exchanges-drops?\" target=\"_blank\" rel=\"noopener\"><b><i>Bitcoin price fundamentals in \u2018moon mode\u2019 as BTC held on exchanges drops<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2860\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/btc-coin-e1602519829455.jpg\" alt=\"\" width=\"700\" height=\"432\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/btc-coin-e1602519829455.jpg 960w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/btc-coin-e1602519829455-300x185.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/btc-coin-e1602519829455-768x474.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">According to analysts, it is believed that Bitcoin\u2019s on-chain fundamentals are mimicking the 2017 ICO bull run. Despite an uneventful month for Bitcoin (<\/span><a href=\"https:\/\/cointelegraph.com\/bitcoin-price-index\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BTC<\/span><\/a><span style=\"font-weight: 400;\">) price, on-chain metrics suggest that Bitcoin may be gearing for an imminent bull run. According to Crypto analyst Willy Woo, he pointed out that:&nbsp;<\/span><\/p>\n<blockquote><p><i><span style=\"font-weight: 400;\">\u201cWhen coins on spot exchanges drop, it&#8217;s a sign that new buyers are coming in to scoop coins off the markets and moving them into cold storage HODL, we are seeing new HODLers right now. Very macro bullish.\u201d<\/span><\/i><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">The trend in coins held by spot exchanges started to change at the beginning of 2020 and it paints a familiar picture for traders, akin to that which resulted in the 2017 bullrun. With the price fall across DeFi tokens and other altcoins, most analysts believe a possible cycling of DeFi and altcoin profits to Bitcoin is underway.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Meme_Of_The_Week\"><\/span><b>Meme Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2853\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture2.jpg\" alt=\"\" width=\"700\" height=\"466\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture2.jpg 624w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Picture2-300x200.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p>We hope you enjoyed this week&#8217;s edition of crypto highlights. For a peek at our last edition of crypto highlights &amp; blockchain news, click <a href=\"https:\/\/satt-token.com\/blog\/2020\/10\/07\/crypto-highlights-week-40-everything-from-last-week-you-dont-want-to-miss\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Highlights: SaTT is here for the long haul, Square invests in Bitcoin, Arthur Hayes steps downs as BitMEX CEO, China\u2019s CBDC passes 3 million transactions, Bitcoin in a moon state: These and more in this week\u2019s crypto highlights.&nbsp; Top [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":2851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[],"class_list":["post-2849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-stories"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=2849"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2849\/revisions"}],"predecessor-version":[{"id":11033,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2849\/revisions\/11033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/2851"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=2849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=2849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=2849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}