Musk continues redesigning Twitter, Instagram hosts NFT tools, and JPMorgan goes public with blockchain commerce: Hodler's Digest, Oct. 30-Nov. 5

Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.

Top stories this week JPMorgan runs the first DeFi exchange on the public blockchain

A cross-border currency exchange was conducted on a public blockchain by JPMorgan in a pilot program involving the Monetary Authority of Singapore (MAS) Project Guardian, SBI Digital Asset Holdings, Oliver Wyman Forum and DBS Bank . The Polygon blockchain hosted the exchange between tokenized deposits of Japanese yen and Singapore dollar, aided by smart contract technology from Aave.

UnionBank of the Philippines Launches Bitcoin and Ethereum Trading

Philippine banking giant UnionBank is now offering select retail customers access to Bitcoin and Ether trading and custody, thanks to a collaborative pilot project between the bank and crypto firm Metaco. UnionBank's offering uses Harmonize, a Metaco platform. UnionBank operates under the regulatory approval of the Bangko Sentral ng Pilipinas, the central bank of the Philippines. The offering took nearly a year to prepare, the result of a January 2022 partnership between Metaco and UnionBank. This isn't UnionBank's first foray into the crypto space, either.

Read also

Features

Crypto PR: The Good, The Bad and The Bad

Features

NFT Clone Punks: True or False?

Everyone come! Meta will bring NFT typing and trading to Instagram

New features coming to Instagram will help users create, show and also sell non-fungible tokens (NFTs) on the social media platform. A social media operation under Meta (formerly Facebook), Instagram will provide an "end-to-end toolkit" for NFTs, according to a recent announcement from Meta. NFTs created on Instagram can be sold on the platform as well as outside of it. The Solana blockchain has also been added to the list of compatible blockchains for Instagram, as per the announcement.

Elon Musk faces class action lawsuit over mass layoffs on Twitter

Elon Musk has already implemented several changes to Twitter since completing his acquisition on October 27. After firing top Twitter executives, Musk reportedly began major layoffs. Affected staff reportedly fought back via a class action lawsuit targeting Musk that essentially claims the layoffs required longer notice. A regulatory filing also recently announced that Musk was the sole member of Twitter's board of directors after removing all others.

You have our swords: 12 independent entities pledge legal support to Ripple

The US Securities and Exchange Commission (SEC) lawsuit against Ripple continues after nearly two years. The latest developments see official support from 12 different entities supporting Ripple in the form of amicus briefs submitted. The Chamber of Digital Commerce and Coinbase are among the list of supporters. SEC says Ripple's XRP sale was an unregistered securities offering. The outcome of the case has the potential to affect the crypto industry as a whole.