The crypto industry invested over USD 100 million in the recent U.S. election cycle, securing major wins as pro-crypto candidates (including Donald Trump) prevailed. Trump’s support for Bitcoin and vow to replace the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, a crypto critic, has fueled optimism. Additionally, crypto political action committees (PACs) scored victories in Ohio and Montana, hoping to shift regulatory power from the SEC to the Commodity Futures Trading Commission (CFTC). Despite uncertainties, crypto advocates anticipate favorable legislation and a potential market bull run, with bitcoin hitting a record high of USD 75,000 and crypto stocks surging shortly after the election.
