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Bitcoin can still hit $100K, no matter who wins US election

Coin Telegraph
Bitcoin can still hit 0K, no matter who wins US election
Coin Telegraph

 The prospect of favorable regulations and Bitcoin’s hedge status mean that Bitcoin can weather any election result and even reach $100,000.

Opinion by Georgii Verbitskii, founder of TYMIO Yield and TYMIO Protect.

The 2024 United States presidential election has raised debates about how both candidates might shape the future of cryptocurrencies, particularly Bitcoin (BTC). 

With the growing number of Bitcoin and altcoin holders in the United States, any winner would make crypto regulation a key issue. 

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Ripple ‘made a mistake’ not talking to regulators early, says CEO

Coin Telegraph
Ripple ‘made a mistake’ not talking to regulators early, says CEO
Brad Garlinghouse

Ripple should have engaged with US regulators a lot earlier, says the firm’s CEO Brad Garlinghouse, adding it’s now “trying to make up for lost time.”

Ripple Labs CEO Brad Garlinghouse conceded that his company should have engaged with United States regulators earlier, and now it and the crypto industry are playing catch-up after being on the receiving end of legal enforcement actions.

“I’ve made far more trips to DC in the past few years than I did in the years before that,” Garlinghouse said in an Oct. 23 appearance at DC Fintech Week.

Ripple is one of the US crypto firms that has been entangled in a legal battle with the Securities and Exchange Commission, a regulator many US crypto executives claim is antagonistic and unfair to the industry.

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

QCP Capital Analysts Highlight Impact of US Elections on Crypto Markets

Bitcoin.com
QCP Capital Analysts Highlight Impact of US Elections on Crypto Markets
Bitcoin
QCP Capital Analysts Highlight Impact of US Elections on Crypto MarketsQCP Capital’s latest market update highlights the influence of the upcoming U.S. elections on financial markets, with a particular focus on cryptocurrencies like bitcoin (BTC). Analysts predict increased volatility as the elections near, with potential outcomes shaping investor sentiment and price movements. QCP Analysts Link U.S. Elections to Crypto Market Movements QCP Capital‘s analysts observe […]
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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Coinbase CEO Brian Armstrong backs Republican Senate candidates

Coin Telegraph
Coinbase CEO Brian Armstrong backs Republican Senate candidates
Brian Armstrong

Armstrong has endorsed pro-crypto Senate candidates, backing Republicans like John Deaton and David McCormick for their stance on digital asset policies.

Coinbase co-founder and CEO Brian Armstrong has endorsed several Republican candidates for the United States Senate in the November elections.

Armstrong took to X on Oct. 20 to show support for pro-crypto Senate candidates, including the pro-XRP (XRP) lawyer John Deaton and former Bridgewater Associates CEO David McCormick.

Both candidates are running under the Republican Party banner, with Deaton running for a Senate seat in Massachusetts and McCormick in Pennsylvania.

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Indicted NYC mayor leaves questionable crypto legacy as controversy mounts

Coin Telegraph
Indicted NYC mayor leaves questionable crypto legacy as controversy mounts
Bitcoin

Before his indictment on criminal charges, NYC Mayor Eric Adams promised to turn the city into a major crypto hub.

Three years before cryptocurrency became a talking point in the United States presidential election for the first time, a different crypto-focused race was brewing in New York City to determine who would replace outgoing Mayor Bill DeBlasio.

Democrat Eric Adams was squaring off against Republican Curtis Sliwa, and both were campaigning on the promise of being pro-crypto mayors. Adams had recently defeated Andrew Yang, another crypto proponent, in the Democratic Party primary. 

On the campaign trail, Adams promised to make NYC the “center of Bitcoins.” He was elected mayor in November 2021, after which he continued to pledge the city would become “the center of the cryptocurrency industry” and argued cryptocurrency should be taught in schools.

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Crypto events turn to regulation and politics as US election looms

Coin Telegraph
Crypto events turn to regulation and politics as US election looms
Coin Telegraph

Some executives at crypto and blockchain firms have suggested prioritizing US congressional races over the presidential election.

With less than a month until the people of the United States decide who will represent them in the House of Representatives, Senate, and the Presidency, some crypto events seem to be focused on regulation and politics. 

Attending the Permissionless III conference in Salt Lake City, Utah, and Ripple Swell in Miami, Florida, in October, Cointelegraph noted that many panels included takes from high-level executives on their predictions for what would happen in the November race between Democrat Kamala Harris and Republican Donald Trump for the US presidency, and what the outcome could mean for the industry in 2025.

Whether the topics of discussion initially focused on regulation or included stablecoins or Bitcoin (BTC) mining, many participants suggested that digital assets had become more of a mainstream issue in US politics in 2024 in a way never before seen. 

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Crypto Super PACs spend $1.3M on candidates as early voting continues

Coin Telegraph
Crypto Super PACs spend .3M on candidates as early voting continues
Coin Telegraph

The Fairshake and Defend American Jobs PACs reported media buys for GOP and Democratic candidates in the House of Representatives ahead of the elections.

With many areas of the United States already allowing residents to cast their ballots in the 2024 election, cryptocurrency-backed political action committees (PACs) have reported roughly $1.3 million worth of expenditures to support the campaigns of Democratic and Republican candidates for the House of Representatives.

In an Oct. 17 filing with the Federal Election Commission (FEC), the Fairshake PAC reported spending more than $900,000 in a media buy supporting Democratic Representative Thomas Suozzi for New York’s 3rd Congressional District. The same PAC disclosed it had spent more than $60,000 on a media buy for Democratic Representative Yadira Caraveo for Colorado’s 8th Congressional District.

Source: FEC

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Better Know a Crypto Candidate: Kari Lake

Coin Telegraph
Better Know a Crypto Candidate: Kari Lake
Arizona

As part of its coverage of the 2024 US Elections, Cointelegraph asked several congressional candidates for their positions on cryptocurrency and blockchain.

Kari Lake is running to represent the state of Arizona in the United States Senate. A far-right Republican who refused to concede her loss in the state’s 2022 gubernatorial election, Lake will face off against Democrat Ruben Gallego in November.

In August, Lake updated her campaign platform to include “building a robust but open framework to protect the cryptocurrency economy.”

She claimed to be a “pro-crypto candidate” on X, supporting some of Republican presidential candidate Donald Trump’s statements advocating for Bitcoin (BTC) “as a last line of defense against our foreign adversaries.”

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Prediction markets like Polymarket a ‘public good,’ more accurate than polls

Coin Telegraph
Prediction markets like Polymarket a ‘public good,’ more accurate than polls
Betting

While some say that prediction markets are a risk to democracy, others think they could serve the public by offering valuable insights and risk management tools.

Despite recent confrontations with regulators, election markets can provide more accurate insights into public sentiment than polls, according to industry observers.

In May 2024, the United States Commodity Futures Trading Commission (CFTC) proposed a rule to ban derivatives used to bet on the outcome of US elections and other major real-world events. 

The CFTC’s proposal drove US-based regulated prediction market platform Kalshi to take the commission to court. Columbia District Judge Jia Cobb rejected the CFTCs proposal, stating that “Kalshi’s contracts do not involve unlawful activity or gaming. They involve elections, which are neither.”

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

Trump crypto venture WLFI a ‘potential pump-and-dump disaster’ 

Coin Telegraph
Trump crypto venture WLFI a ‘potential pump-and-dump disaster’ 
Bitcoin

The launch of the Trump family crypto venture, World Liberty Financial, during a US election campaign carries risks, possibly hurting both his campaign and the crypto industry’s image.

Former United States President Donald Trump could be playing a risky game by backing a new decentralized finance (DeFi) project.

Trump has put his personal brand on a number of eccentric products, from gold sneakers to Bibles, silver coins and most recently watches.

The former president and business mogul is reportedly busy launching the DeFi protocol World Liberty Financial (WLFI) and its token.

Still, this foray has been met with skepticism and doubt from within the crypto industry as it could harm Trump’s candidacy as well as the crypto industry's already less-than-stellar reputation.

The fact that a presidential candidate is diving into the DeFi sector does not impress Mark Cuban, an American businessman and open supporter of Vice President Kamala Harris’ candidacy.

Cuban told Cointelegraph that despite being a fan of DeFi, he doesn’t find anything “innovative or valuable about adding another DeFi offering” to the sector. The famous investor says this is just one more of Trump’s marketing schemes:

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SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

SEC Charges Jump Crypto Subsidiary for Role in Terra’s Stablecoin Collapse

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