Red Sweep
VeradiVerdict - Issue #313
The most likely outcome is a “Red Sweep”. Trump has won the Presidency (Electoral vote and popular vote), the Republicans have flipped the Senate and are on track to retain the House.
This scenario is the most positive for the blockchain industry, because it gives the highest probability of quicker and more decisive action.
Bitcoin reached an all-time high post-election results!
Below is an infographic from Stand With Crypto on the breakdown of pro vs anti crypto candidates elected for both the House and Senate:
DIGESTS
How Trump Could Change Crypto
Analysts expect a broad market rally and changes in SEC leadership. Trump’s crypto policies include a bitcoin strategic reserve, banning a central bank digital currency and freeing Ross Ulbricht.
BUSINESS
What Next for Bitcoin After Trump Win? Traders Look to Fed Rate Cuts as BTC Sets New Highs at $76K
Analysts expect a 0.25% rate cut this week, which has historically benefited assets like BTC by diluting the dollar's value and pushing investors towards alternative investments
JP Morgan Rebrands Blockchain Platform, Plans On-Chain Foreign Exchange Services
Previously called Onyx, JP Morgan has refreshed its network under the Kinexys name as it rolls out new infrastructure and capabilities.
REGULATION
Polymarket Faces Potential Ban in France After Raking in $3.5B from US Election: Report
France's gambling authority is reportedly preparing to ban the prediction market platform, according to a local media report.
NEW PRODUCTS AND HOT DEALS
Chainlink, UBS Asset Management, Swift Complete Pilot to Extract Cash From Tokenized Funds
The pilot was run as part of the Monetary Authority of Singapore's Project Guardian.
Polkadot and SP Negócios Collaborate to Enhance Crypto Economy Development
SP Negócios, São Paulo’s investment and export promotion agency, has partnered with Polkadot to foster innovation among companies in São Paulo.
LETS MEET UP
Bangkok, Devcon 2024, November 12-15
Los Angeles, November 25-29
New York City, December 12
Walks and coffee meetings in San Francisco throughout the year!
ABOUT ME
Hi, I’m Paul Veradittakit, a Managing Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing in blockchain companies and cryptocurrencies. I’ve been in the industry since 2014, and the firm invests in equity, early stage token projects, and liquid cryptocurrencies on exchanges. I focus on early-stage investments and share my thoughts on what’s going on in the industry in this weekly newsletter.