In a week filled with significant developments in the cryptocurrency industry, DeFi and BRC 20 continue to gain traction. KuCoin Research reported that crypto investments hit $1 billion in May, with Ethereum dominating the scene.

ConsenSys, a US-based crypto-focused company, announced that the US Securities and Exchange Commission has closed its investigation into Ethereum, leading to a surge in ETH prices. Meanwhile, MicroStrategy purchased another massive batch of Bitcoin, now owning close to $8.3 billion worth of the cryptocurrency.

In other news, Kraken confirmed the return of funds from the controversial Whitehat Hack, marking the end of the drama between Kraken and Certik. Polkadot also made significant advancements, introducing the Join-Accumulate Machine protocol and becoming the Title sponsor of Coinfest Asia.

Standard Chartered Bank is set to launch a Bitcoin and Ether trading desk, becoming the first global bank to engage in spot crypto trading. Lastly, Fidelity is preparing to seed its Ethereum ETF with $4.7 million. These developments indicate a promising future for the crypto market.