{"id":3218,"date":"2020-11-30T20:11:55","date_gmt":"2020-11-30T19:11:55","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=3218"},"modified":"2022-03-15T11:49:22","modified_gmt":"2022-03-15T10:49:22","slug":"crypto-highlights-week-48-negative-bitcoin-headlines-affect-speculators","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/3218","title":{"rendered":"Crypto Highlights Week #48 \u2013 Negative Bitcoin headlines affect speculators"},"content":{"rendered":"<p><b>Crypto Highlights: <\/b><i>Bitcoin back at $19k, Chinese police seize $4.2 billion in PlusToken scam, Exclusive interview with SaTT CEO, Facebook\u2019s Libra set to launch in January 2021: There is more in this week\u2019s Crypto Highlights.<\/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\/3218\/#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\/3218\/#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\/3218\/#Negative_Bitcoin_headlines_affect_speculators_not_HODLers_says_Morgan_Creek_CEO\" title=\"Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO\">Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO<\/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\/3218\/#Chinese_police_seized_crypto_assets_worth_42B_today_from_PlusToken_Ponzi\" title=\"Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi\">Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/satt-token.com\/blog\/archives\/3218\/#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-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/3218\/#Exclusive_interview_of_SaTT_project_CEO_Gauthier_Bros\" title=\"Exclusive interview of SaTT project CEO, Gauthier Bros\">Exclusive interview of SaTT project CEO, Gauthier Bros<\/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\/3218\/#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-8\" href=\"https:\/\/satt-token.com\/blog\/archives\/3218\/#3_Reasons_Bitcoin_Crashed_by_3000_-_And_Why_Its_Still_Bullish\" title=\"3 Reasons Bitcoin Crashed by $3,000 \u2013 And Why It\u2019s Still Bullish\">3 Reasons Bitcoin Crashed by $3,000 \u2013 And Why It\u2019s Still Bullish<\/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\/3218\/#Top_Adoption_Of_The_Week\" title=\"Top Adoption Of The Week\">Top 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\/3218\/#Facebooks_Libra_to_reportedly_launch_in_January_2021_as_USD_stablecoin\" title=\"Facebook\u2019s Libra to reportedly launch in January 2021 as USD stablecoin\">Facebook\u2019s Libra to reportedly launch in January 2021 as USD stablecoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/satt-token.com\/blog\/archives\/3218\/#Ethereum_20s_Genesis_Day_Is_Officially_Set_for_Dec_1\" title=\"Ethereum 2.0\u2019s Genesis Day Is Officially Set for Dec. 1\">Ethereum 2.0\u2019s Genesis Day Is Officially Set for Dec. 1<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/satt-token.com\/blog\/archives\/3218\/#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-2413\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1.jpg\" alt=\"\" width=\"700\" height=\"368\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1.jpg 1140w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-300x158.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-1024x539.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/07\/bitcoin-bull-run-1-768x404.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<ul>\n<li><b>After a long wait, Facebook\u2019s Libra is set to launch in January 2021, providing support for a USD-pegged stablecoin.&nbsp;<\/b><\/li>\n<li><b>Following the notorious PlusToken scam in 2018\/2019, the Chinese police have allegedly seized $4.2 billion assets linked to the scheme.&nbsp;<\/b><\/li>\n<li><b>Bitcoin crashed to the $16k mark: three reasons for the fall and why it&#8217;s a considered healthy correction.&nbsp;<\/b><\/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=\"Negative_Bitcoin_headlines_affect_speculators_not_HODLers_says_Morgan_Creek_CEO\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/negative-bitcoin-headlines-affect-speculators-not-hodlers-says-morgan-creek-ceo?\" target=\"_blank\" rel=\"noopener\"><b><i>Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3223\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/morgancreekcapital7_750xx3000-1690-0-115.jpg\" alt=\"\" width=\"700\" height=\"394\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/morgancreekcapital7_750xx3000-1690-0-115.jpg 750w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/morgancreekcapital7_750xx3000-1690-0-115-300x169.jpg 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Following the retracement of Bitcoin to the $16k levels in the past few days, there has been a myriad of negative headlines trailing the noble asset with most traders calling the 2017 scenario of a massive retracement after hitting an all-time high. <\/span><span style=\"font-weight: 400;\">CEO of Morgan Creek Capital Management Mark Yusko believes negative Bitcoin headlines only affect speculators and not HODLers.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yusko <\/span><a href=\"https:\/\/twitter.com\/MarkYusko\/status\/1332296513104584708\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">believes<\/span><\/a><span style=\"font-weight: 400;\"> most financial institutions are obviously afraid of Bitcoin\u2019s disruptive impact and as such, they are deploying whatever means available to attack or slow down mass adoption:&nbsp;<\/span><\/p>\n<blockquote><p><i><span style=\"font-weight: 400;\">\u201cWhen threatened, incumbents always turn to influence of governments to try and slow adoption of new technology through onerous regulation\u201d<\/span><\/i><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">With China <\/span><a href=\"https:\/\/cointelegraph.com\/news\/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">seizing $4.2 billion<\/span><\/a><span style=\"font-weight: 400;\"> worth of crypto assets and Coinbase\u2019s Brian Armstrong <\/span><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-continues-falling-losing-17k-in-biggest-crash-since-march\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">foretelling<\/span><\/a><span style=\"font-weight: 400;\"> of potentially damaging Bitcoin regulations, there is never a shortage of bad news. Such occasions are likely to take a negative toll on speculators who are looking at near term gain from the digital assets. Bitcoin holders are much notorious for their low time preference, meaning they defer immediate gratification for long-term gain. Yusko further commented.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chinese_police_seized_crypto_assets_worth_42B_today_from_PlusToken_Ponzi\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi?\" target=\"_blank\" rel=\"noopener\"><b><i>Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3221\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/plustoken.png\" alt=\"\" width=\"700\" height=\"412\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/plustoken.png 1061w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/plustoken-300x176.png 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/plustoken-1024x602.png 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/plustoken-768x452.png 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">To date, the PlusToken scam stands in history as the largest crypto heist ever masterminded which saw billions of dollars in crypto assets being whisked away. In the recent development unfolding, 109 individuals linked to the PlusToken scam have been allegedly arrested by the Chinese police, consequently resulting in the seizure of crypto assets worth a staggering $4.2 billion at today\u2019s prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the filing issued by the court on Nov. 19 and published by <\/span><a href=\"https:\/\/www.theblockcrypto.com\/post\/85873\/china-seize-billion-cryptos-from-plustoken-crackdown\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Block<\/span><\/a><span style=\"font-weight: 400;\">, authorities seized a whopping 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 79,581 Bitcoin Cash (BCH), 1.4 million Litecoin (LTC),&nbsp; 6 billion Dogecoin (DOGE), 74,167 <\/span><a href=\"https:\/\/cointelegraph.com\/dash-price-index\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dash<\/span><\/a><span style=\"font-weight: 400;\">, 487 million XRP, 27.6 million EOS, and 213,724 Tether (USDT) from seven individuals convicted in the case.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The ruling from the Yancheng Intermediate People\u2019s Court stated that gains from the seized crypto assets will consequently be forfeited to the national treasury. Broader details of how these assets will be dealt with in accordance with national laws haven\u2019t been made known to the general public yet.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/cointelegraph.com\/news\/chinese-authorities-charge-six-people-over-5-8b-plustoken-ponzi-scheme\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">PlusToken scam<\/span><\/a><span style=\"font-weight: 400;\"> debuted its whitepaper back in Feb. 2018, portraying itself as a South Korean crypto exchange and wallet provider that could service users with a mouth-watering investment capable of <\/span><a href=\"https:\/\/cointelegraph.com\/news\/what-are-the-biggest-alleged-crypto-heists-and-how-much-was-stolen\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">generating<\/span><\/a><span style=\"font-weight: 400;\"> between 8% and 16% returns monthly. The scheme <\/span><a href=\"http:\/\/newspaper.jcrb.com\/2020\/20200929\/20200929_006\/20200929_006_1.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">drew in 2 million members<\/span><\/a><span style=\"font-weight: 400;\"> between May 2018 and June 2019 before pulling out an exit scam.<\/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=\"Exclusive_interview_of_SaTT_project_CEO_Gauthier_Bros\"><\/span><a href=\"https:\/\/en.cryptonomist.ch\/2020\/10\/25\/interview-satt-ceo-gauthier-bros\/\" target=\"_blank\" rel=\"noopener\"><b><i>Exclusive interview of SaTT project CEO, Gauthier Bros<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2833\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt.jpg\" alt=\"\" width=\"700\" height=\"329\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt.jpg 980w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt-300x141.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/10\/Satt-768x360.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Since making it to the center-stage of the crypto airwave, we have been tactical in our approach to the issuance of a decentralized advertising product. From closing a record sum in our token sales to getting listed on 5 exchanges within a week, we are now out of our path to full decentralization.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While we remain committed in this journey to major adoption of decentralized advertising products, we have deemed it necessary to always share our progress with the community and talk about what we are building. In our most recent interview, Cryptonomist takes it on with SaTT CEO&nbsp; Gauthier Bros as he talked extensively about what we have been working on since 2018.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When asked why SaTT ICO was massively successful despite the \u2018fallen\u2019 ICO market, Gauthier pointed out that SaTT has been very focused on issuing a working product. It was natural for success to accompany hard work:&nbsp;<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cI do believe the fact that we have focused very hard on having a working platform is one of the main reasons that investors decided to back the SaTT project. Our core team comes from Atayen, Inc and we have already provided technology solutions such as our Facebook pages for business apps, so we understand what it takes to deliver these kinds of solutions. All of these factors played into our successful fundraising.\u201c<\/span><\/i><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cSaTT is a project that is committed to delivery and we are not interested in being a flash in the pan. We want to be a solution widely adopted by our industry,\u201d Gauthier further reiterated.&nbsp;<\/span><\/p><\/blockquote>\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=\"3_Reasons_Bitcoin_Crashed_by_3000_-_And_Why_Its_Still_Bullish\"><\/span><a href=\"https:\/\/www.coindesk.com\/3-reasons-bitcoin-crashed-by-3000-and-why-its-still-bullish\" target=\"_blank\" rel=\"noopener\"><b><i>3 Reasons Bitcoin Crashed by $3,000 \u2013 And Why It\u2019s Still Bullish<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2549\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down.jpg\" alt=\"\" width=\"700\" height=\"438\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down.jpg 1000w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down-300x188.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/09\/Bitcoin-down-768x480.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The past weeks have been phenomenal for Bitcoin as the digital rallies to near-record highs, but as we all know nothing goes up forever in this space, Bitcoin inclusive. Amidst the euphoria that accompanied the massive rally, <strong>Bitcoin came crashing on the 26th, shedding almost $3k of its gains<\/strong> in the recent weeks.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Three reasons seem to be responsible for the massive fall: <\/span><\/p>\n<p><span style=\"font-weight: 400;\">1. Excess leverage: Data from <\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.bybt.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\">Bybit shows<\/a><span style=\"font-weight: 400;\"> that almost $2 billion worth of derivative positions were liquidated as Bitcoin crashed to the $16k region. The unwinding of the leverage trades was duly anticipated as \u2018funding rate\u2019 (the cost of holding long positions) saw a multi-month high of 0.098% in the past few days, a pointer to overleveraging in the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">2.Technical Pullback: Bitcoin\u2019s legendary rally to the $19k neighborhood was obviously overstretched. The momentum propelled Bitcoin to trade above<\/span><span style=\"font-weight: 400;\"> its 10-day moving average (MA) throughout the ascent, despite an overbought reading on the 14-day relative strength index (RSI). Such moves are accompanied by pullbacks which are considered healthy. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">3. Some FUD amplified Sell-off: A <\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1331745196887867393\" target=\"_blank\" rel=\"noopener\">tweet<\/a><span style=\"font-weight: 400;\"> from Coinbase CEO Brian Armstrong suggesting that the Treasury Department is <\/span><a style=\"font-size: 1rem;\" href=\"https:\/\/www.coindesk.com\/coinbase-ceo-trump-administration-may-rush-out-burdensome-crypto-wallet-rules\" target=\"_blank\" rel=\"noopener\">making moves<\/a><span style=\"font-weight: 400;\"> to track owners of self-hosted cryptocurrency wallets weakened the bullish move, causing a panic sell-off across the market.&nbsp;<\/span><\/p>\n<p>As at the time of writing, Bitcoin has pushed beyond the Fibanocci retracement level of $18,210 and has pushed past $19k according to <a href=\"https:\/\/coinmarketcap.com\" target=\"_blank\" rel=\"noopener\">CMC<\/a>, reaching a record 3 year high of $19,736.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Top_Adoption_Of_The_Week\"><\/span><b>Top Adoption Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Facebooks_Libra_to_reportedly_launch_in_January_2021_as_USD_stablecoin\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin?\" target=\"_blank\" rel=\"noopener\"><b><i>Facebook\u2019s Libra to reportedly launch in January 2021 as USD stablecoin<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3220\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/download.jpg\" alt=\"\" width=\"700\" height=\"458\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/download.jpg 940w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/download-300x196.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/download-768x502.jpg 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Libra is back in the news as the Facebook-backed digital asset is set to launch in <\/span><span style=\"font-weight: 400;\">January 2021, a <\/span><a href=\"https:\/\/www.ft.com\/content\/cfe4ca11-139a-4d4e-8a65-b3be3a0166be\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> from the Financial Times allegedly claims. Following more than one year of intense scrutiny from the U.S and global financial regulators, Libra will launch in the form of a U.S. dollar-backed digital currency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Relying on information gathered from three people involved in the Libra project, the Financial Times further revealed that the Libra Association will initially kick-off support for USD and will subsequently add support for other well-known fiat currencies to the basket of assets that backs Libra\u2019s value.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As we look forward to January, the exact date is yet to be communicated. Such information will be largely based on when the Libra Association receives regulatory approval by the Swiss Financial Market Supervisory Authority, or FINMA, to operate as a payments service. But for the time being, everything looks great for Libra.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ethereum_20s_Genesis_Day_Is_Officially_Set_for_Dec_1\"><\/span><a href=\"https:\/\/www.coindesk.com\/ethereum-2-0-launch-genesis-day-dec-1\" target=\"_blank\" rel=\"noopener\"><b><i>Ethereum 2.0\u2019s Genesis Day Is Officially Set for Dec. 1<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3222\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/eth2.0.png\" alt=\"\" width=\"700\" height=\"308\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/eth2.0.png 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/eth2.0-300x132.png 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/eth2.0-768x338.png 768w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Hope for ETH 2.0 launch heightens as the Ethereum contract address reaches the minimum threshold required to kickstart the genesis block on December 1. Its <\/span><a href=\"https:\/\/twitter.com\/DepositEth\/status\/1331062755047006209\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">confirmation<\/span><\/a><span style=\"font-weight: 400;\"> came in during the early hours of Tuesday, November 24.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The genesis block is now set to go live on 2020-12-01 at 12:00:23 GMT with a validator of 21,063 counts.&nbsp; ETH 2.0 launch will issue in the<\/span><span style=\"font-weight: 400;\"> Beacon chain which is an interim blockchain that will operate alongside the current network as it begins the first of four migration phases to the new network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI would say we are comfortably half-way through the overall effort to make ETH 2 feature complete,&#8221; Drake Justin, an ETH 2.0 researcher told CoinDesk over a direct message.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\"> \u201cThe research (which lasted years!) is largely done and the phase 0 genesis is definitely a significant implementation milestone. Phase 0 lays the heavy-duty foundations (signatures, Merkleisation, networking, Eth 1 deposits, randomness, PoS, etc.). Many of the upcoming hard forks will layer relatively thin infrastructure on top of these foundations.\u201d<\/span><\/p><\/blockquote>\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-3219\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/2.jpg\" alt=\"\" width=\"700\" height=\"500\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/2.jpg 1440w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/2-300x214.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/2-1024x732.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/11\/2-768x549.jpg 768w\" 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\/11\/23\/crypto-highlights-week-47-everything-from-last-week-you-dont-want-to-miss\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Highlights: Bitcoin back at $19k, Chinese police seize $4.2 billion in PlusToken scam, Exclusive interview with SaTT CEO, Facebook\u2019s Libra set to launch in January 2021: There is more in this week\u2019s Crypto Highlights. Top Headlines Of The Week [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[79,103],"class_list":["post-3218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-stories","tag-bitcoin","tag-crypto"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3218","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=3218"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3218\/revisions"}],"predecessor-version":[{"id":11011,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/3218\/revisions\/11011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/3227"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=3218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=3218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=3218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}