🌙 US Election Night

The next president of the United States will have an important role choosing regulators and potentially even advocating for crypto regulations, taking executive action or lobbying for legislation.

Author

Mike Gavela
November 05, 2024

In partnership with

Crypto Roundup - November 5

With the U.S. election affecting crypto, Bitwise’s CIO is optimistic about long-term growth regardless of the outcome, though a Trump victory is viewed as more favorable in the short term. Meanwhile, decentralized prediction market Polymarket saw unprecedented volume in five days due to the election. Finally, crypto regulations remain a focal point, with significant industry lobbying aimed at influencing policy.

Top Stories

  • Crypto firms raise record amounts in lobbying funds to sway election outcomes.

  • Polymarket’s trading volume surged, eclipsing its entire 2023 performance in just five days.

  • Bitwise remains bullish on crypto, urging “buy the dip” even in challenging conditions.

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TOP STORIES

Here's Why Today's U.S. Election Matters for Crypto

It's unlikely a crypto bill will become law this year, but not impossible.

www.coindesk.com/news-analysis/2024/11/05/crypto-regulation-2024-election-impact

Polymarket Does More Volume in 5 Days than All of 2023 - "The Defiant"

Prediction market volumes are at all-time highs as the odds of a Trump presidency soar.

thedefiant.io/news/defi/polymarket-does-more-volume-in-5-days-than-all-of-2023

‘Buy the dip’ even in most bearish election outcome, says Bitwise CIO

Matt Hougan’s view comes in sharp contrast to many in the crypto industry.

www.dlnews.com/articles/people-culture/buy-the-dip-even-in-most-bearish-election-outcome-says-bitwise-cio

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OTHER HEADLINES

Degens Hit the Memecoin Trenches to Gamble on Election - "The Defiant"

Kamala Harris and Donald Trump memecoins are trading in tandem with Polymarket odds and general market sentiment.

thedefiant.io/news/defi/degens-hit-the-memecoin-trenches-to-gamble-on-election

CZ filing says SEC can’t tell securities from Beanie Babies

Former Binance CEO Changpeng Zhao described the SEC's amended lawsuit as "moot" and "meritless" and seeks to avoid disgorgement costs.

protos.com/cz-filing-says-sec-cant-tell-securities-from-beanie-babies

Michigan Hosts First U.S. Pension Fund to Buy Spot Ethereum ETF Shares - "The Defiant"

Michigan's state retirement fund purchased $11.1M worth of spot Ether ETF shares. The fund already held $6.6M in Bitcoin ETF shares.

thedefiant.io/news/tradfi-and-fintech/michigan-hosts-first-u-s-pension-fund-to-buy-spot-ethereum-etf-shares

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