The biggest news in the cryptoverse for Nov. 4 includes Bitcoin’s outperformance of Nasdaq after the Fed raised interest rates, Do Kwon’s invitation to all law enforcement in the world to join an online conference, and DOGE’s 9% fall amid Twitter’s class-action lawsuit.
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Bitcoin outperformed NASDAQ after Fed raised rates by 0.75%
NASDAQ and Gold prices reacted to the Fed’s latest 0.75% interest rate hike by sinking, while Bitcoin (BTC) performed better than both and recorded a spike.
NASDAQ and Gold fell by 4.79% and 0.68%, respectively. In the meantime, Bitcoin increased by 0.55%.
Terra Do Kwon wants to invite the police for a conference
On Nov.3, Korean prosecutors claimed that they obtained a private conversation between Do Kwon and one of his employees, proving that Kwon purposely manipulated the Terra (LUNA) price. The prosecutor’s office also said that the conversation proved Kwon was an illegal immigrant in Europe.
On Nov.4, Kwon Tweeted to say that he’d hold a virtual conference to end all talks of him being in hiding.
Alright ill throw a meetup/conference soon to get over this in hiding bs
Cops from world over welcome to attend
— Do Kwon 🌕 (@stablekwon) November 3, 2022
Kwon didn’t disclose a date for the virtual conference but invited all law enforcement worldwide to join.
Twitter facing lawsuit over staff layoffs, Dogecoin sinks 9%
After Elon Musk took over Twitter, he announced that he was planning to cut 50% of its workforce, which implies that he’ll fire 3,700 people. Twitter is now facing a class-action lawsuit over this, as the employers took legal action on Nov. 4.
Musk’s favorite Dogecoin (DOGE) reacted to this news by falling 9% in the last 24 hours.
Bitcoin mining difficulty expected to spike Nov. 6, increase pressure on miners
Bitcoin mining difficulty will adjust on Sunday, Nov. 6. and it is expected to increase to record a new all-time-high third time in a row.
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