Blue wave's crypto impact

Yes, Democratic control of both the Senate and the House could put pressure on cryptocurrencies by blocking industry-backed legislation, despite the sector spending more than $300 million to support pro-crypto candidates. Bitcoin briefly fell to a six-week low before stabilizing at $78,070, after dropping about 41% from its all-time high; the sector’s market capitalization stood at $2.61 trillion. Fears over security breaches—including a $6 billion hack of Binance—and rising borrowing costs added to the pressure on the market.

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