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Crypto-friendly Republican French Hill won reelection in Arkansas but is expected to lose his House Financial Services Committee chairmanship after Democrats gained control of the House. Hill sponsored the CLARITY Act and supported the GENIUS Act, while Democrat Maxine Waters is the leading contender to replace him as chair; crypto-backed PACs spent more than $176 million during the election cycle. The leadership change could increase regulatory scrutiny and create uncertainty around the future of US crypto legislation.
Bitcoin fell below $76,000 as a broad AI-stock selloff spread across financial markets, dragging cryptocurrencies and crypto-related stocks lower.
The Nasdaq dropped nearly 6%, crypto miners plunged 15%-20%, and more than $1 billion in crypto derivatives positions were liquidated, mostly bullish bets.
Despite the sharp selloff, crypto's relative resilience compared with AI-linked stocks could support longer-term optimism, although continued weakness in AI sentiment may pressure digital assets.
Bitcoin and major cryptocurrencies extended their gains as a broad risk-asset rally and a $730 million crypto liquidation wave fueled a short squeeze, pushing total crypto market capitalization to $2.66 trillion.
Short liquidations surged to $448 million from $179 million a day earlier, while U.S. spot Bitcoin and Ethereum ETFs recorded $75 million and $53 million in net inflows, respectively.
Continued short covering and renewed ETF demand could support further crypto gains, although mixed performance across major altcoins may limit the breadth of the rally.
XRP spot ETF inflows plunged to $18.83 million in October, their lowest monthly total since January, signaling a sharp slowdown in institutional investment demand.
ETFs recorded a $529,510 outflow on November 2, while XRP faces critical support near $1.265; meanwhile, XRP Ledger vault activation votes remain below the required 28-vote threshold.
A break below $1.265 could expose XRP to $1.160 and $1.000, while successful vault activation could introduce new RLUSD lending opportunities.
Global markets rallied as investors assessed the Democratic midterm election victory, with US and European equities advancing, the dollar weakening, and cryptocurrencies posting strong gains.
Bitcoin climbed 2.46% to $80,449, Ethereum gained 4.04% to $2,418, and Solana advanced 3.60% to $96.86, while gold rose 1.59% and bond yields eased across major regions.
Improving risk appetite and easing geopolitical concerns could support further gains across cryptocurrencies and broader risk assets, although US payrolls data and the Bank of England's expected rate hike remain key uncertainties.
Bitcoin recovered above $80,000 on Thursday after a midterm-driven selloff, as improving risk sentiment following the Democrats' congressional sweep lifted crypto and broader markets. U.S. spot Bitcoin ETFs attracted about $75 million on Wednesday and Ether ETFs took in $53 million, while ETH and SOL each gained nearly 4%; Democrats have also indicated opposition to the CLARITY Act. Renewed ETF demand and easing geopolitical concerns could support further crypto gains, although uncertainty over U.S. crypto legislation may limit momentum.
The XRP Ledger has activated the fixCleanup3_4_0 amendment, closing a vulnerability that could have allowed certain token-destruction delegates to mint new tokens.
The flaw affected the network’s permissioned delegation system and assets issued on the ledger, including stablecoins, but did not affect XRP itself; no publicly confirmed exploitation cases have been reported.
The security fix could strengthen confidence in the XRP Ledger’s permissioned token infrastructure and reduce concerns about unauthorized token creation.
The XRP Ledger has activated a software fix closing a security loophole that allowed accounts authorized to burn tokens to potentially mint new tokens under certain conditions. The fixCleanup3_4_0 amendment went live at ledger 108,112,129, enforcing separation between token destruction and creation permissions and protecting issued assets, including stablecoins. The correction could strengthen confidence in XRP Ledger's token issuance infrastructure and reduce security risks for assets operating on the network.
Bitcoin held above $80,000 as crypto markets rebounded following Democratic victories in both houses of Congress, with Zcash surging nearly 12% to lead major tokens. BTC traded around $80,484, up 5.7% in 24 hours, while ETH gained 8% and ZEC climbed 11.7% with $1.2 billion in daily trading volume.
Sherrod Brown's victory in Ohio and Democratic control of Congress could significantly complicate the outlook for U.S. crypto legislation, according to The Digital Chamber.
Crypto PACs spent more than $63 million backing Brown's opponent, while Elizabeth Warren is viewed as the leading candidate to chair the Senate Banking Committee, a potential obstacle to the Clarity Act.
The political shift could increase regulatory uncertainty and delay comprehensive crypto market-structure legislation, although bipartisan opportunities around stablecoins, custody, tax reporting, and self-custody rights remain.
XRP millionaire wallets have climbed to 2,147, their highest level of 2026, as the token reclaimed $1.30 on November 4. Santiment recorded 28 additional wallets holding at least 1 million XRP over 10 days, while October spot XRP ETF inflows slowed to $18.83 million, down from $121.40 million in September.
However, the Coinbase Premium Index fell to -0.16%, an eight-month low, signaling weaker US demand, while November ETF flows started with a small outflow followed by zero net flows.
Continued whale accumulation could support XRP's next breakout attempt, but weakening US demand and resistance near $1.40 may cap further gains.
Ripple's $2.57 billion RLUSD stablecoin is increasingly concentrated on Ethereum, with roughly two-thirds of its circulating supply now held outside the XRP Ledger.
Ethereum holds approximately $1.72 billion in RLUSD compared with $850 million on the XRP Ledger, while Ethereum's supply grew by about a third over the past month.
Ethereum's deeper DeFi ecosystem could continue attracting RLUSD liquidity, potentially limiting the direct benefits of stablecoin growth for the XRP Ledger.
Bitcoin rebounded above $80,000, recovering its losses from the Binance hack as markets absorbed the U.S. midterm election results with limited disruption.
BTC climbed 3.5% to $80,500, while ETH gained nearly 6% to $2,433; crypto futures volume increased 27%, but open interest rose just 3%, suggesting limited new leverage.
Improved institutional custody infrastructure and continued market resilience could support Bitcoin's recovery, although holding the $76,000–$78,000 support zone and sustaining momentum above $80,000 remain key tests.
Democratic control of the U.S. House is set to reshape congressional leadership and potentially change the direction of crypto legislation, putting the future of major digital asset bills in flux.
House Financial Services Committee Chair French Hill's reelection remains too close to call despite 99% of votes reported, while Maxine Waters is expected to regain the committee chair position.
The leadership transition could delay, reshape, or alter the path of crypto regulation, creating uncertainty around future stablecoin and digital asset legislation.
The crypto industry's roughly $200 million midterm election spending campaign suffered a major setback as crypto skeptic Sherrod Brown decisively won Ohio's Senate race despite more than $60 million in opposition spending.
Democrats taking Congress raises the prospect of increased crypto industry oversight and investigations, while the Clarity Act already faces a major legislative setback.
The shifting political balance could pressure U.S. crypto regulation prospects and create uncertainty around the industry's access to policymakers.
Only about one-third of Ripple's $2.63 billion RLUSD supply is on the XRP Ledger, with roughly two-thirds remaining on Ethereum despite Ripple's growing institutional partnerships.
The XRP Ledger holds $862.8 million in RLUSD versus $1.72 billion on Ethereum, while its lending protocol has only 19 of the 28 validator votes required and token vaults have 21.
Ripple's bank approval and Robinhood partnership could support RLUSD adoption, but delayed ledger upgrades may limit near-term benefits for XRP.
Cryptocurrencies rallied following the U.S. midterm election results, with total crypto market capitalization reaching $2.62 trillion and Bitcoin touching $78,696 as electoral uncertainty eased.
Bitcoin and Ethereum each gained 1.55% overnight, while Zcash surged 9.2%; however, U.S. spot Bitcoin and Ethereum ETFs recorded $116 million and $85 million in net outflows, respectively.
The relief rally could extend if political uncertainty continues fading, but concerns about resistance to crypto-friendly policies and persistent ETF outflows may limit further upside.
Democratic control of both chambers of Congress could significantly complicate the US crypto industry's push for comprehensive federal regulation, putting the CLARITY Act's future in greater doubt. Elizabeth Warren and Maxine Waters are positioned to lead key congressional committees, while the bill already failed a Senate procedural vote 49–50 and may need to restart under the new Congress in January. Delayed legislation and increased scrutiny of Trump-linked crypto ventures could prolong regulatory uncertainty and pressure sentiment across US crypto markets.
Bitcoin trades near $78,330 and Ethereum around $2,317 as US midterm election results bring future cryptocurrency regulation and the CLARITY Act back into focus. Bitcoin and Ethereum gained 1.87% and 2.41% over 24 hours, but US spot Bitcoin ETFs recorded $399 million in outflows while Strategy purchased another 811 BTC worth $65.5 million. Election uncertainty, institutional outflows and upcoming US employment data could intensify crypto volatility, with Bitcoin's $76,000–$79,000 range remaining critical for near-term direction.
Global markets rallied after Democrats swept both chambers of the U.S. Congress, with U.S. stock futures surging and European equities posting strong gains.
Gold jumped 2.83%, Bitcoin gained 1.83%, and the U.S. Dollar Index declined 0.44%, while crude oil prices retreated amid expectations of potential U.S. policy changes toward Iran.
The political shift could intensify cross-asset volatility as investors reassess the potential implications for U.S. policy, currencies, commodities and risk assets.
Global markets rallied as Democrats swept both chambers of the U.S. Congress, with Wall Street futures and European equities posting strong gains while gold and cryptocurrencies advanced. The S&P 500 gained 1.06%, the Dow rose 1.50%, gold jumped 2.83%, and Bitcoin climbed 1.83% to $78,421, while the Dollar Index fell 0.44%. Shifting expectations around U.S. policy could sustain volatility across equities, commodities, currencies, and crypto markets.
Democrats are projected to take control of both chambers of Congress, sending Trump-linked DJT shares and TRUMP Coin lower while broader stocks and cryptocurrencies rally.
DJT fell as much as 7.2% premarket and TRUMP Coin dropped 7.6% over 24 hours below $1.50, while Bitcoin climbed above $78,000 and SPY, DIA and QQQ gained more than 1%.
The political shift could continue pressuring Trump-associated assets while potentially supporting broader equities and cryptocurrency markets as investors reassess the policy outlook.
Bitcoin briefly plunged to approximately $75,700 as early U.S. midterm results raised the prospect of a Democratic sweep, before recovering to around $76,700 during Asian trading.
The selloff followed a drop of more than $2,000 from near $78,000, while S&P 500 futures fell 1.3% and Nasdaq 100 futures slid 2.3%; Bitcoin was little changed over 24 hours.
Uncertainty over potential regulatory scrutiny and the CLARITY Act could keep crypto markets volatile as election results are finalized.
Binance disclosed a major security breach in which attackers compromised its internal wallet-signing infrastructure and impacted approximately $6.34 billion in digital assets.
The exchange said $2.85 billion had been frozen or intercepted, and that 98% of the affected funds had been replenished as of October 31, with Binance committing to absorb the financial impact.
The incident could intensify scrutiny of centralized-exchange security and weigh on crypto sentiment, although the recovery measures may help limit concerns about user losses.
THORChain’s RUNE token surged approximately 15% in 24 hours as the protocol restored most cross-chain swaps following a weekend security-related trading halt. Trading and transaction signing resumed across 10 of 13 external networks, while BNB Smart Chain, Cosmos Hub and Solana remained restricted. The partial recovery could support further RUNE momentum, although unresolved network restrictions and the underlying refund vulnerability may continue to pressure confidence.
The $6.3 billion Binance hack attributed to a North Korean hacking unit highlights how tokenized Wall Street assets could face similar theft risks as traditional finance moves onto blockchain infrastructure.
About $2.67 billion of stolen tokens were frozen by issuers, while bitcoin and ether remained beyond direct issuer control, and tokenized securities may offer ownership recovery through freezing and reissuing mechanisms.
However, shallow liquidity, market-maker failures and slow legal processes could expose tokenized Treasury funds, private credit and stocks to significant disruption during future cyberattacks.
Binance has published a new zero-knowledge proof-of-reserves snapshot following its late-October security incident, reporting that its affected asset replenishment programme has reached approximately 95%.
The snapshot covers October 31 and was announced November 2, with reserves spanning ten major cryptoassets; Binance plans another snapshot on November 4.
The disclosure could help restore customer confidence in Binance, although unresolved security questions and the distinction between reserve verification and a full financial audit remain important risks.</summary>
Binance began expanding cryptocurrency withdrawal access on November 3, reopening additional token and network routes following its late-October hot-wallet security incident. The phased restart began around 04:00 UTC and covers selected routes across Ethereum, BNB Smart Chain, Solana and XRP Ledger, with availability dependent on specific token-network combinations. The gradual restoration could improve confidence in Binance's operational recovery, although restricted routes and the absence of independent security certification leave uncertainty around a full return to normal service.
Binance is seeing hourly deposits overtake withdrawals as customer activity stabilizes following its $6.3 billion security breach, signaling an early shift in exchange flows. The latest hourly interval recorded a $10 million net inflow, while Binance says it has replenished approximately 95% of the stolen assets and reported cumulative net outflows of $5.276 billion over 46 hours. Continued withdrawal restoration and asset recovery could strengthen confidence in Binance, although the remaining outflows and unresolved security investigation may prolong uncertainty.
U.S. midterm elections could reshape cryptocurrency regulation and determine whether the stalled CLARITY Act gains momentum or faces further delays as control of Congress hangs in the balance.
The bill previously failed a September procedural vote of 49-50 and still requires 60 Senate votes, while the crypto industry spent approximately $176 million across more than 100 congressional races.
The election outcome could influence regulatory clarity for digital assets and create significant catalysts for Bitcoin, Ethereum and crypto-related stocks over the next two years.