The cryptocurrency market saw significant gains following Donald Trump's victory in the 2024 U.S. presidential election, with many anticipating a positive impact on the industry. A report from HTX Ventures highlighted how macroeconomic factors, including rising federal debt and inflation fears, have made Bitcoin a popular hedge among voters. Support for cryptocurrencies surged, especially in key battleground states like Pennsylvania and Wisconsin, where interest is growing in crypto-informed candidates. Trump has expressed strong support for the digital asset sector, proposing initiatives such as a Crypto Presidential Advisory Council and a commitment to protect self-custody rights. His policies may lead to a friendlier regulatory environment, encouraging crypto businesses to remain in the U.S. Companies like Polymarket benefited directly from the election, capturing a large share of the prediction market related to the elections. The expected regulatory clarity under Trump could reverse trends of crypto companies leaving the U.S., with notable firms potentially pursuing IPOs in the coming years.

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