1 March

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6:03 PM UTC
1 March

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6:03 PM

Crypto News – November 3rd

Price of Dogecoin rises following Elon Musk’s tweets

After acquiring Twitter, ElonMusk tweeted an image of a dog wearing a T-shirt with the Twitter logo on Halloween. Immediately, Dogecoin’s price rose by 50% within 24 hours. After the tweet, Dogecoin investors and fans hope that the billionaire will integrate Dogecoin with Twitter to increase the price of Dogecoin.

Instagram to support Polygon-powered NFT marketplace

Following the integration of NFT on Facebook, Instagram has allowed the integration of NFT on the Polygon network, the most recent Meta update, in order to grow and diversify their cryptocurrency ecosystem.

The features are live with a small group of creators in the U.S. and will be expanded to other countries soon. Meta will allow connection of Solana’s Phantom wallet and Metamask wallet to support its NFT integration. Meta also announced that information for collections from OpenSea can now be viewed on the platform.

The Federal Reserve hiked interest rates by 0.75% for the fourth time in a row 

The Federal Reserve, the American central bank, approved an increase of 75 basis points in the rate. Thus, the interest rate for short-term loans in the US reaches 4.00%–3.75%, the highest rate in 15 years. The decision came after a two-day policy meeting of The Federal Reserve Board’s Federal Open Market Committee (FOMC). This is the agency’s strongest move since the 1980s, which could affect millions of US businesses and households by raising interest rates.

Binance confirms as an investor in Elon Musk’s Twitter acquisition

Cryptocurrency exchange operator Binance Confirms Equity Investment in Musk’s Twitter Deal

Changpeng Zhao, CEO of Binance, stated in an interview: “We’re excited to be able to help Elon Musk realize a new vision for Twitter. We aim to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology.”

It is reported that Binance has invested $500 million in Elon Musk’s acquisition of Twitter since May.

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