{"id":9794,"date":"2020-06-02T20:00:16","date_gmt":"2020-06-02T18:00:16","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=2138"},"modified":"2022-03-15T12:01:25","modified_gmt":"2022-03-15T11:01:25","slug":"crypto-highlights-week-22-erc-20-tokens-now-make-up-almost-50-of-the-total-value-stored-on-ethereum","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/9794","title":{"rendered":"Crypto Highlights Week #22 \u2013 ERC-20 Tokens Now Make up Almost 50% of the Total Value Stored on Ethereum"},"content":{"rendered":"<p><b>Crypto Highlights: <\/b><i>Worst crisis setting the stage for Bitcoin, China\u2019s civil code on cryptocurrency passed, WeChat to invest $70 billion in blockchain and others, U.S SEC haunts BitClave, theses 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\/9794\/#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-2\" href=\"https:\/\/satt-token.com\/blog\/archives\/9794\/#The_Worst_Crisis_in_a_Century_Is_Setting_the_Stage_for_Bitcoin\" title=\"The Worst Crisis in a Century Is Setting the Stage for Bitcoin\">The Worst Crisis in a Century Is Setting the Stage for Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/satt-token.com\/blog\/archives\/9794\/#China_Passes_Civil_Code_Which_Will_Allow_its_Citizens_to_Inherit_Cryptocurrency\" title=\"China Passes Civil Code Which Will Allow its Citizens to Inherit Cryptocurrency\">China Passes Civil Code Which Will Allow its Citizens to Inherit Cryptocurrency<\/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\/9794\/#Tencent_The_Parent_Company_Of_Wechat_To_Invest_70_Billion_In_Fintech_Advancement_Including_Blockchain\" title=\"Tencent, The Parent Company Of Wechat To Invest $70 Billion In Fintech Advancement Including Blockchain\">Tencent, The Parent Company Of Wechat To Invest $70 Billion In Fintech Advancement Including Blockchain<\/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\/9794\/#More_Updates_From_The_Week\" title=\"More Updates From The Week\">More Updates From 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-6\" href=\"https:\/\/satt-token.com\/blog\/archives\/9794\/#ERC-20_Tokens_Now_Make_up_Almost_50_of_the_Total_Value_Stored_on_Ethereum\" title=\"ERC-20 Tokens Now Make up Almost 50% of the Total Value Stored on Ethereum\">ERC-20 Tokens Now Make up Almost 50% of the Total Value Stored on Ethereum<\/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\/9794\/#This_Weeks_Crypto_Market_Sentiment\" title=\"This Weeks Crypto Market Sentiment\">This Weeks Crypto 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\/9794\/#Ahead_of_Ethereum_20_Launch_3_Key_Metrics_Point_to_ETH_Price_Surge\" title=\"Ahead of Ethereum 2.0 Launch, 3 Key Metrics Point to ETH Price Surge\">Ahead of Ethereum 2.0 Launch, 3 Key Metrics Point to ETH Price Surge<\/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\/9794\/#Crypto_Mainstream_Adoption_Of_The_Week\" title=\"Crypto Mainstream Adoption Of The Week\">Crypto 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\/9794\/#Russias_Biggest_Bank_Is_Buying_5000_Blockchain_ATMs_That_Can_Mine_Crypto\" title=\"Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto\">Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto<\/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\/9794\/#Biggest_Regulatory_Fallout_Of_The_Week\" title=\"Biggest Regulatory Fallout Of The Week\">Biggest Regulatory Fallout 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-12\" href=\"https:\/\/satt-token.com\/blog\/archives\/9794\/#SEC_Orders_ICO_Startup_to_Return_255M_to_Investors\" title=\"SEC Orders ICO Startup to Return $25.5M to Investors\">SEC Orders ICO Startup to Return $25.5M to Investors<\/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\/9794\/#Crypto_Meme_of_the_Week\" title=\"Crypto Meme of the Week\">Crypto Meme of the Week<\/a><\/li><\/ul><\/nav><\/div>\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=\"The_Worst_Crisis_in_a_Century_Is_Setting_the_Stage_for_Bitcoin\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/the-worst-crisis-in-a-century-is-setting-the-stage-for-bitcoin?\" target=\"_blank\" rel=\"noopener\"><b><i>The Worst Crisis in a Century Is Setting the Stage for Bitcoin<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2140\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/bitcoin-4.jpg\" alt=\"Weekly Crypto Highlights \" width=\"750\" height=\"422\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/bitcoin-4.jpg 907w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/bitcoin-4-300x169.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/bitcoin-4-768x432.jpg 768w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Continuous march of the coronavirus pandemic across the planet has taken a great toll on world economics. Steep drop in stock prices and job loss across boards are already mounting great concerns. <\/span><span style=\"font-weight: 400;\">&nbsp;The United States alone is on track to see a record 30% rate of <\/span><a href=\"https:\/\/www.theguardian.com\/business\/2020\/mar\/26\/us-unemployment-rate-coronavirus-business\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">unemployment<\/span><\/a><span style=\"font-weight: 400;\"> and an unprecedented 30% <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-03-22\/morgan-stanley-sees-u-s-economy-plunging-30-in-second-quarter?sref=323RPL5z\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">drop<\/span><\/a><span style=\"font-weight: 400;\"> in gross domestic product(GDP). China, the European Union, Japan, and the United Kingdom aren\u2019t faring that much better either.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So far, More than $8 trillion has been <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-23\/when-8-trillion-in-global-fiscal-stimulus-still-isn-t-enough?sref=bempDxKS\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">spent<\/span><\/a><span style=\"font-weight: 400;\"> globally to counter the effects of the pandemic, still, there is no sight of it ending anytime soon. This narrative is signaling a deep global recession that will shake the world to its roots. Amidst these concerns, Bitcoin seems to be gaining increased momentum as investors have flocked to the safe-haven asset to cushion against a falling global market. So far, Bitcoin has shown impressive <\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/cryptocurrency\/btcusd\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">recovery<\/span><\/a><span style=\"font-weight: 400;\"> and is still up some 35% YTD, almost 3 times the performance of gold.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"China_Passes_Civil_Code_Which_Will_Allow_its_Citizens_to_Inherit_Cryptocurrency\"><\/span><a href=\"https:\/\/blockchain.news\/news\/china-civil-code-allows-citizens-inherit-cryptocurrency\" target=\"_blank\" rel=\"noopener\"><b><i>China Passes Civil Code Which Will Allow its Citizens to Inherit Cryptocurrency<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2141\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/672z311_1573487615_2019-11-11-15-53-35_7975bfe5c2594f622bfc1ad59496976e.jpg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"672\" height=\"311\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/672z311_1573487615_2019-11-11-15-53-35_7975bfe5c2594f622bfc1ad59496976e.jpg 672w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/672z311_1573487615_2019-11-11-15-53-35_7975bfe5c2594f622bfc1ad59496976e-300x139.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Give it to China whenever it comes to blockchain and crypto adoption, although the country is not yet open to crypto investment regulatory framework, China has been doing great in drafting laws that favor blockchain and cryptocurrencies. In early May, China became the first country to officially recognize blockchain jobs, they have now taken a step further ahead in passing a civil code that allows its citizens to inherit cryptocurrencies. This interesting news from China secures a topspot on this week&#8217;s crypto highlights.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Lixin Yang, a professor at the Renmin University of China, the <\/span><a href=\"http:\/\/www.xinhuanet.com\/politics\/2020lh\/2020-05\/28\/c_1126046968.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">civil code<\/span><\/a><span style=\"font-weight: 400;\"> states that \u201cWhen a natural person dies, the legacy is the personal legal property left by she\/he.\u201d This law which has been in existence for long has been further extended to include internet properties and cryptocurrencies. The big question is, would you rather let the law or your private keys to protect your cryptocurrency holdings?<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tencent_The_Parent_Company_Of_Wechat_To_Invest_70_Billion_In_Fintech_Advancement_Including_Blockchain\"><\/span><a href=\"https:\/\/www.blockchain-council.org\/blockchain\/tencent-to-invest-70-billion-in-fintech-advancement-including-blockchain\/\" target=\"_blank\" rel=\"noopener\"><b><i>Tencent, The Parent Company Of Wechat To Invest $70 Billion In Fintech Advancement Including Blockchain<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2142\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/1584528376832144.jpg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"705\" height=\"458\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/1584528376832144.jpg 705w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/1584528376832144-300x195.jpg 300w\" sizes=\"auto, (max-width: 705px) 100vw, 705px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain might not have gained the needed recognition in the past years, but a lot is beginning to change already. Tencent, <\/span><span style=\"font-weight: 400;\">a massive Chinese tech giant that operates WeChat aims for blockchain technology development across China as part of a $70 billion investment in fintech. The company had <\/span><a href=\"https:\/\/www.reuters.com\/article\/us-tencent-cloud-investment\/tencent-to-invest-70-billion-in-new-infrastructure-idUSKBN2320VB\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">stated<\/span><\/a><span style=\"font-weight: 400;\"> that it would in the next 5 years inject $70 billion (500B Yuan) into technology infrastructures such as blockchain, cybersecurity, cloud computing, and artificial intelligence.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The tech giant mentioned that the COVID-19 crisis had been a critical factor motivating companies to develop their cloud-based technology infrastructure. There is no doubt that the pandemic is drastically reshaping the way business operations are being carried out all over the world. The company has also pledged support to bolster blockchain technology development across China.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"More_Updates_From_The_Week\"><\/span><b>More Updates From The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"ERC-20_Tokens_Now_Make_up_Almost_50_of_the_Total_Value_Stored_on_Ethereum\"><\/span><a href=\"https:\/\/www.newsbtc.com\/2020\/05\/29\/erc20-tokens-50-value-ethereum\/\" target=\"_blank\" rel=\"noopener\"><b><i>ERC-20 Tokens Now Make up Almost 50% of the Total Value Stored on Ethereum<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2143\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/Ethereum-03.jpg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"750\" height=\"422\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">World&#8217;s largest smart contract platform is getting closer to being flipped on its own blockchain, as other ERC-20 tokens now make up almost half of the total value stored on the network. This is the <\/span><a href=\"https:\/\/messari.io\/article\/the-evolution-of-value-on-ethereum\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">latest take<\/span><\/a><span style=\"font-weight: 400;\"> from Messari Crypto\u2019s latest analysis into the state of the value locked on the world\u2019s second-largest blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This report has further stated that the growth of stablecoins in relation to the growth in value of ETH will be what decides whether or not ETH will remain the dominant force on the blockchain.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">ETH\u2019s market cap currently sits somewhere around $22.7 billion while the value of ERC-20 tokens sits at $18.7 billion with stablecoins accounting for the larger part of the market cap. USDT has recently <\/span><a href=\"https:\/\/cointelegraph.com\/news\/tether-unseats-xrp-as-third-largest-crypto-dwarfing-its-volume-25-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">overtaken<\/span><\/a><span style=\"font-weight: 400;\"> XRP to become the second-biggest altcoin by market cap, should the Ethereum community be worried about stablecoins dominance? Maybe not yet.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"This_Weeks_Crypto_Market_Sentiment\"><\/span><b>This Weeks Crypto Market Sentiment<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Ahead_of_Ethereum_20_Launch_3_Key_Metrics_Point_to_ETH_Price_Surge\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/ahead-of-ethereum-20-launch-3-key-metrics-point-to-eth-price-surge?\" target=\"_blank\" rel=\"noopener\"><b><i>Ahead of Ethereum 2.0 Launch, 3 Key Metrics Point to ETH Price Surge<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2144 size-full\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/0_WyOt131FrOiIBGA_-750x375-3.png\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"750\" height=\"375\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/0_WyOt131FrOiIBGA_-750x375-3.png 750w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/0_WyOt131FrOiIBGA_-750x375-3-300x150.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">ETH continues to gain momentum ahead of the <\/span><a href=\"https:\/\/cointelegraph.com\/news\/ethereum-20-release-date-set-for-the-eleventh-hour-as-issues-persist\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ethereum 2.0<\/span><\/a><span style=\"font-weight: 400;\"> launch. <\/span><span style=\"font-weight: 400;\">The Ethereum developer community is nearing the <\/span><a href=\"https:\/\/cointelegraph.com\/news\/ethereum-20-release-date-set-for-the-eleventh-hour-as-issues-persist\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">launch of Ethereum 2.0<\/span><\/a><span style=\"font-weight: 400;\"> with rumors of its possible launch in July. This is a major multi-year milestone for the blockchain network. One that would reshape the Ethereum ecosystem from a&nbsp; <\/span><a href=\"https:\/\/cointelegraph.com\/tags\/pow\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">proof-of-work<\/span><\/a><span style=\"font-weight: 400;\"> consensus algorithm to a <\/span><a href=\"https:\/\/cointelegraph.com\/tags\/pos\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">proof-of-stake<\/span><\/a><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a lot of buzz surrounds the ETH2.0 launch, <\/span><span style=\"font-weight: 400;\">three key metrics show us that users and investors are optimistic about the price of ETH: the rapid address growth, the rising market activity, and the rising user activity. These combined forces could be brewing a possible rally in ETH price just before the big launch.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data from Glassnode has <\/span><a href=\"https:\/\/twitter.com\/glassnode\/status\/1264637941793636354\/photo\/1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">revealed<\/span><\/a><span style=\"font-weight: 400;\"> that 40 million addresses are currently holding Ether. This is a whopping 350% increase since ETH reached an ATH in the first quarter of 2018. Adoption and scaling seem to be happening side by side on the Ethereum network.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Mainstream_Adoption_Of_The_Week\"><\/span><b>Crypto Mainstream Adoption Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Russias_Biggest_Bank_Is_Buying_5000_Blockchain_ATMs_That_Can_Mine_Crypto\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto?\" target=\"_blank\" rel=\"noopener\"><b><i>Russia\u2019s Biggest Bank Is Buying 5,000 Blockchain ATMs That Can Mine Crypto<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2145\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/sberbank.jpg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"678\" height=\"382\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/sberbank.jpg 678w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/sberbank-300x169.jpg 300w\" sizes=\"auto, (max-width: 678px) 100vw, 678px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Banks are not only getting involved with spending cryptocurrencies but also they are now becoming part of the mining network as well. <\/span><span style=\"font-weight: 400;\">Russia\u2019s biggest bank Sberbank has carved out over $100 million to be spent on acquiring 5,000 blockchain-enabled ATMs that are capable of mining cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sberbank has <\/span><a href=\"https:\/\/utp.sberbank-ast.ru\/SB\/NBT\/PurchaseView\/10\/0\/0\/587657\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">called for tenders<\/span><\/a><span style=\"font-weight: 400;\"> to provide 4,917 ATMs with a built-in graphic card capable of supporting \u201cblockchain operations\u201d. The giant bank which holds over 44% of Russia\u2019s personal deposit could be setting the pace for others to follow.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alexander Chepurnoy, <\/span><a href=\"https:\/\/cointelegraph.com\/news\/charles-hoskison-reveals-his-9-favorite-crypto-projects\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">the co-founder<\/span><\/a><span style=\"font-weight: 400;\"> of Ergo blockchain platform, had speculated on the use of a blockchain capable graphic card, stating that aside mining, maybe the ATM could also be used for processing of some cryptographic algorithms.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Biggest_Regulatory_Fallout_Of_The_Week\"><\/span><b>Biggest Regulatory Fallout Of The Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"SEC_Orders_ICO_Startup_to_Return_255M_to_Investors\"><\/span><a href=\"https:\/\/cointelegraph.com\/news\/sec-orders-ico-startup-to-return-255m-to-investors?\" target=\"_blank\" rel=\"noopener\"><b><i>SEC Orders ICO Startup to Return $25.5M to Investors<\/i><\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2146\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/90.jpeg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"750\" height=\"500\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">Witch-hunting of ICOs continues as a crypto firm that conducted its ICO far back in 2017 has been slammed with a lawsuit. It was a week of intense battle between the U.S Securities and Exchange Commission and crypto firm <\/span><a href=\"https:\/\/cointelegraph.com\/tags\/bitclave\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">BitClave<\/span><\/a><span style=\"font-weight: 400;\">&nbsp;with the SEC ordering the firm to refund $25.5 million to its investors. In the charges levied against the crypto firm, the regulator <\/span><a href=\"https:\/\/www.sec.gov\/news\/press-release\/2020-124\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">found<\/span><\/a><span style=\"font-weight: 400;\"> BitClave to be responsible for selling unregistered securities in its initial coin offering.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">US SEC had stated that \u201cBitClave agreed to settle the charges by returning proceeds from the offering and paying additional monetary relief to be distributed to investors through a Fair Fund.\u201d Without further argument or push to appeal the judgement, the firm has agreed to refund all $25.5 million including prejudgment interest of $3,444,197 and a penalty of $400,000.&nbsp;<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Meme_of_the_Week\"><\/span><b>Crypto Meme of the Week<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2151\" src=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/maxresdefault-e1591265553423.jpg\" alt=\"Crypto Highlights Week #21 \u2013 Everything from Last Week you don\u2019t want to miss\" width=\"750\" height=\"384\" title=\"\" srcset=\"https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/maxresdefault-e1591265553423.jpg 1280w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/maxresdefault-e1591265553423-300x154.jpg 300w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/maxresdefault-e1591265553423-1024x525.jpg 1024w, https:\/\/satt-token.com\/blog\/wp-content\/uploads\/2020\/06\/maxresdefault-e1591265553423-768x394.jpg 768w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p>We hope you enjoyed the latest crypto highlights. For a peek at the last week digest of crypto highlights &amp; blockchain news, click&nbsp;<a href=\"https:\/\/satt-token.com\/blog\/2020\/05\/26\/crypto-highlights-week-21-everything-from-last-week-you-dont-want-to-miss\/\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Highlights: Worst crisis setting the stage for Bitcoin, China\u2019s civil code on cryptocurrency passed, WeChat to invest $70 billion in blockchain and others, U.S SEC haunts BitClave, theses and more in this week\u2019s crypto highlights.&nbsp; Top Stories Of The [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":9628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[47],"tags":[],"class_list":["post-9794","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\/9794","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=9794"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/9794\/revisions"}],"predecessor-version":[{"id":11062,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/9794\/revisions\/11062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/9628"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=9794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=9794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=9794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}