In a surprising turn of events, Donald Trump has claimed victory in the 2024 US presidential election, securing important swing states like North Carolina and Georgia, which he lost in 2020. Major news outlets project that he will garner 306 electoral votes, indicating a strong chance of victory. Notably, Trump also appears to have won the popular vote. Besides the presidency, all 435 House seats and 34 Senate seats are being contested, presenting significant implications for future policy-making, particularly in the crypto industry. Trump delivered a live speech celebrating his comeback, emphasizing the mandate given by voters. Republicans also regained control of the Senate after years in the minority, with implications for passing key legislation like the Financial Innovation and Technology for the 21st Century Act (FIT21), which seeks to limit the SEC’s jurisdiction over cryptocurrencies. Conversely, Democratic Senator Elizabeth Warren won reelection in Massachusetts, maintaining her stance as a critic of crypto. The elections are marked by high betting activity on prediction markets, and analysts anticipate heightened volatility in Bitcoin prices as the results unfold.

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