Galaxy Research Director Alex Thorn stated that with Democrats winning both houses of Congress, significant progress on key digital asset legislation is unlikely. Leadership of congressional committees is expected to change, with Warren potentially becoming chair of the Senate Banking Committee and Maxine Waters expected to regain control of the House Financial Services Committee. Several Republican lawmakers who support the crypto industry lost their seats, but the pro-crypto camp did not suffer a complete defeat. According to Stand With Crypto, 19 pro-crypto senators and 226 pro-crypto representatives have been elected. Molly White's tracking shows that in 12 closely contested elections, the crypto and AI political action committee lost 9, but won all 40 elections. House Democrats are discussing expanding Maxine Waters' Crypto Investors Consumer Rights Act into a broader crypto market structure bill. In the absence of legislation, the SEC, CFTC, and banking regulators have already defined crypto rules within their existing legal authority, giving the Trump administration two years to continue its work.

The Central Bank of Russia announced this month that it will allow non-accredited investors to purchase Bitcoin. (The Bitcoin Historian)

An address increased its ETH short position by approximately $3.18 million, currently holding 6,543.11 ETH short positions, with a position value of approximately $14.56 million. The contract account at address 0xfc27…9d9d has accumulated profits of approximately $21.77 million.

A certain address's contract account has accumulated profits of approximately $30.23 million. This address added 5482.07 short positions in SKHX between 22:43 and 23:32 on November 6th, valued at approximately $4.66 million based on the reference price. Currently, this address holds 24169.81 short positions in SKHX, worth approximately $20.54 million. Address: 0x0242…fffa1

The crypto industry spent $233 million in the midterm elections, but Democrats still control Congress. The CLARITY Act is currently facing legislative pressure, and the industry may have to bear the related costs in the future.