Powell said, “There is a rate hike, a slowdown, but there is no interruption.“A sharp drop in risky assets

The U.S. central bank hinted at the possibility of adjusting the pace of interest rate hikes, but drew a line on the expected shift in monetary policy direction (pivot) that the market expected. The U.S. Federal Reserve (Fed) made four consecutive giant steps (0.75 percentage points increase) at the Federal Open Market Committee (FOMC) regular meeting on the 2nd (local time). As a result, the target range of the U.S. benchmark interest rate rose to 3.75 to 4.00%. It is the highest level in about 15 years since January 2008. Chairman Powell said at a press conference, “The time to slow down the rate hike may be as early as the next meeting (December 13).” However, the final interest rate level will be higher than expected last time, he said. “It is too early to consider stopping the rate hike and there is still a long way to go.”



Support from issuing Instagram and NFT to selling and purchasing

Instagram recently released a digital collectible function, allowing it to mint and sell NFT (first issued for the first time. Users can connect to digital wallets to showcase NFTs that they have produced or purchased themselves. NFT can be displayed on the Instagram feed and can also be checked for authenticity. Instagram will provide the “end-to-end toolkit” needed to create, display, and sell NFTs. In addition, it plans to show video-based digital collectables on in-app platforms. Instagram operator Meta (formerly Facebook) will not charge a fee for displaying, sharing and selling digital collectables on Instagram or Facebook until at least 2024. However, purchasing within the Instagram app of Android and iOS operating system (OS) will be charged an app store fee.



There is no possibility of delisting?WeMIX, can we get out of this crisis?

On the 27th of last month, the Digital Asset Exchange Joint Consultative Body (DAXA, Docsa) designated Wemade’s key coin WeMix as a cautionary item due to false disclosure of distribution volume. WeMade CEO Jang Hyun-guk affirmed at a press conference on the 3rd quarter results the previous day that there was no delisting of WeMix. Distribution volume is not a light issue because it affects the supply and demand of the market and is directly linked to prices. In fact, there have been many cases in the past that have gone to delisting due to issues related to distribution volume. This is because cryptocurrency does not have an authorized disclosure system, so it has to rely absolutely on project team information. WeMix’s calling period is until the 10th, and there is now about a week left.



Upbit, KAVA designation of unique items…Did I follow the guidelines for DAXA?

On the 3rd, Upbit designated KAVA, which was traded in the won market, as a significant stock on its official site. It is interpreted as a measure in accordance with the guidelines for important stocks announced by the Digital Asset Exchange Joint Consultative Body (DAXA) in September. Upbit said, “We believe that USDX’s dollar pegging, a stable coin linked to the Kava ecosystem dollar, does not work normally,” adding, “The value of KAVA linked as collateral may fluctuate rapidly in a situation where this situation is not resolved.”



Near Protocol establishes ‘Korea Hub’

The Near Foundation, which oversees the governance and development of the Near Protocol, announced on the 2nd that it will open a “Web3 Hub” in Korea. The near protocol hub is in charge of developing web3-related businesses and training developers in each country. The Korea Hub will attract potential projects to raise awareness of the near protocol and expand the ecosystem. Various activities and events to foster the community will also be continuously promoted. It is expected to build a community through meet-up for developers and investors, Hackathon, blockchain, and Web3 university club support.



Twitter Stops Development of Cryptocurrency Wallet…DojiCoin Falling

Twitter announced that it will stop developing cryptocurrency wallets. When the news became known, DOGE (Dojikoin) fell by about 10%. Dodgecoin has doubled this week alone since Elon Musk’s acquisition of Twitter. This is attributed to the expectation that Elon Musk will make a cryptocurrency-friendly decision on Twitter.