Drop in Bitcoin’s Price Following Fed’s Announcement; Indian Government to Check on Big Tech’s Data Collection: Tech Market Roundup

Here are some quick tech catch for you so that you stay updated with the latest crypto and tech news

Good morning Tech Fam, here's a quick tech update for you to catch on:

What's new today: Bitcoin's price dropped 0.9% in the hour following the Fed's announcement; Meme coins are rallying again, outperforming bitcoin and ether.

Fast-Trach Insights: Whatsapp comes to windows for all desktop users; The Indian Government has started hectic deliberations over regulating Big Tech's data collection.

Crypto markets dipped today after the Federal Reserve released minutes from its July meeting in which the agency said it would continue to hike interest rates in order to tame inflation. Bitcoin's price dropped 0.9% in the hour following the Fed's announcement and was down 2.4% for the day. Ethereum was down by 0.9% and down 2% for the day.

Meme coins are rallying again, outperforming bitcoin and ether. Dogecoin, the biggest meme cryptocurrency by market cap, has gained 21% in the past seven days to trade near nine cents, the most since June 1. Shiba Inu, the self-proclaimed dogecoin killer, rallied more than 50%, hitting a three-month high of $0.00001700, according to CoinDesk data. Market leaders bitcoin and ether have risen just 3% and 11%, respectively.

Meta-owned WhatsApp's new app on Windows no longer requires users to link their phones to send, receive, and sync messages. According to The Verge, an update on WhatsApp's site revealed the refreshed Windows app is out of beta and available to download on the Microsoft Store. The new app is native to Windows, which, as WhatsApp explains, should make the app faster and more responsive, the report said.

The Indian Government has started hectic deliberations over regulating Big Tech's data collection and usage policies after parliamentarians expressed their concerns over the use of data for stifling genuine competition in the market. The inter-ministerial talks saw the participation of ministries of corporate affairs, electronics and information technology, and the Competition Commission of India, three people with direct knowledge of the discussions said.

Consumers have a new ask: They want more control over the type of advertisements they are shown online. More technology companies are preparing to give it to them. ByteDance Ltd.'s TikTok and the company behind YourAdChoices—the clickable icon that gives users information about why they are being shown certain ads—are planning to follow Meta Platforms Inc., Alphabet Inc.'s Google, and others in introducing settings that let users opt out of ads from certain categories.