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🌙 Federal Reserve Leaves Rates Unchanged

"Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation," said the FOMC in its policy statement.

Author

Mike Gavela
November 01, 2023

Crypto Roundup - Nov 1

Amidst the Federal Reserve’s decision to hold interest rates steady, Bitcoin exhibited stability, trading above $34,500, while the Solana ecosystem flourished, with its SOL token hitting a 14-month high during the Breakpoint conference. Despite these positive market movements, the arrest of SafeMoon executives on charges of misappropriation casts a shadow, underscoring the pressing need for accountability and integrity in the crypto space. These events collectively highlight the cryptocurrency market’s complexity and its dual nature of innovation and necessary regulatory oversight.

Top Stories:

  • Federal Reserve’s Rate Decision: The FOMC has kept the federal funds rate unchanged, with Bitcoin showing stability in response, highlighting the market's evolving reaction to central bank policies.

  • Solana’s SOL Token Rally: Amid the Breakpoint conference, Solana's SOL token has soared to a 14-month high, driven by positive developments and optimistic projections, though tempered by potential market volatility from token withdrawals.

  • SafeMoon Executives Arrested: SafeMoon executives are facing legal action with charges of securities fraud, wire fraud, and money laundering, bringing to light issues of accountability and investor protection in the crypto industry.

TOP STORIES

Federal Reserve Leaves Rates Unchanged; Bitcoin Flat at $34.5K

Market participants will now turn to Fed Chair Jerome Powell's post-meeting press conference to glean insight into the future path of U.S. central bank policy.

www.coindesk.com/markets/2023/11/01/federal-reserve-leaves-rates-unchanged-bitcoin-flat-at-345k

Solana's SOL Token Soars to 14-Month High Amid Breakpoint Conference - The Defiant

Solana's native token is soaring to the highest since August 2022 as a flurry of announcements have dropped during the Layer 1 blockchain's largest conference.

thedefiant.io/solana-s-sol-token-soars-to-14-month-high-amid-breakpoint-conference

SafeMoon executives arrested after DOJ, SEC allege they misappropriated millions, buying luxury cars and real estate

Prosecutors say SafeMoon executives lied to investors about having 'locked' liquidity and instead used the funds to buy luxury cars.

www.theblock.co/post/260514/safemoon-executives-arrested-after-doj-sec-allege-they-misappropriated-millions-buying-luxury-cars-and-real-estate

FUNDRAISES

OTHER HEADLINES

MicroStrategy bought more bitcoin in October as asset gained value

Business intelligence company and bitcoin bull MicroStrategy continued to add to its digital asset war chest as prices increased.

www.theblock.co/post/260563/microstrategy-bought-more-bitcoin-in-october-as-asset-gained-value

Hacker drains $2.1m through memecoin lending market on Onyx Protocol

Onyx fell foul to a similar exploit to one that cost another protocol Hundred Finance $7 million in April.

www.dlnews.com/articles/defi/hacker-drains-funds-through-pepe-market-on-onyx-protocol

Coinbase crypto futures for retail US traders goes live, includes 'nano' bitcoin trading

The largest cryptocurrency exchange in the U.S. continues to expand its offerings as it launches futures trading for retail customers.

www.theblock.co/post/260396/coinbase-crypto-futures-for-retail-us-traders-goes-live-includes-nano-bitcoin-trading

Attacker drains $2.1 million from Onyx in latest DeFi exploit

Decentralized finance protocol Onyx suffered a security exploit, leading to a loss of more than $2.1 million.

www.theblock.co/post/260348/attacker-drains-2-1-million-from-onyx-in-latest-defi-exploit

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