The 2024 US elections are taking place, with multiple outlets declaring Donald Trump the winner after securing pivotal swing states like North Carolina and Georgia, which he lost in 2020. Trump is projected to receive 306 electoral college votes and has also reportedly won the popular vote. The Republican Party is regaining control of the Senate, securing a majority for the first time in four years, while gaining seats in the House of Representatives, although falling short of a majority. Trump's victory speech highlighted the significant voter support he received, suggesting a powerful mandate for the coming administration. In notable developments, pro-crypto candidate Bernie Moreno defeated anti-crypto Senator Sherrod Brown in Ohio, signifying a shift toward more crypto-friendly policies in the Senate. Furthermore, the election’s outcome is expected to have long-lasting implications for cryptocurrency regulation, with potential changes to the Financial Innovation and Technology for the 21st Century Act (FIT21) looming ahead. The final results will take time to be fully confirmed due to close races in various states.

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