The Block
Quick Take For weeks it has appeared that Donald Trump winning the U.S. presidency would bolster the price of bitcoin. Brokerage firm Bernstein said bitcoin will hit a price target of $80,000 to $90,000 by January if Trump won but sink to $50,000 if Harris was victorious.
Quick Take U.S. markets closed higher Wednesday following Donald Trump’s victory over Vice President Kamala Harris in the 2024 presidential election. Coinbase led the way, rising more than 30%, followed by a slew of bitcoin miners, including Cipher Mining, Riot Platforms and others.
Quick Take A bankruptcy court has allowed the Avalanche Foundation to buy back over $52 million worth of AVAX tokens it sold to the defunct Luna Foundation Guard in early 2022. The move marks the closing of the book of Avalanche’s doomed relationship with the failed algorithmic stablecoin project.
Quick Take Republican Donald Trump has won the U.S. presidential election, defeating his Democrat rival Kamala Harris, according to major media outlets, with four results still to come. Bitcoin reached a new all-time high above $75,000 as Donald Trump’s early lead in the 2024 U.S. presidential race became clear, gaining nearly 10% within 24 hours to reach the milestone. DeFi tokens also surged after Donald Trump’s U.S. presidential victory, with Aave gaining over 26% and Uniswap rising 30%. The following a
Quick Take FTX co-founder Wang is set to be sentenced in a New York court on Nov. 20. Wang is also expecting the birth of his son a week later, on Nov. 27, with his wife, Cheryl Chen.
Quick Take Coinbase CEO Brian Armstrong reflected on the Nov. 5 elections in the United States, which seated crypto-friendly politicians Donald Trump as president and Sen. Bernie Moreno in Ohio. “We are going to see this industry be built in America,” Armstrong said in a Wednesday X post. He added that the crypto-friendly super PAC Fairshake amassed $78 million thus far in the 2026 U.S. midterms.
Quick Take Matter Labs has hired Meghan Hughes, the former VP of Marketing at the Solana Foundation. Hughes will be the ZKsync developer’s new chief marketing officer. She previously worked at Google, Facebook, Niantic and Stripe, among others.
Quick Take Hadley Stern will lead endeavors to bolster Marinade’s staking solution and its place in the digital asset industry. He previously served as Global Head of Digital Asset Custody at the New York banking corporation BNYM.
Quick Take Persistent bearish sentiment in the perpetual swaps market has triggered negative funding rates, according to K33 analysts. The analysts said average returns after 30-day average funding rates flip negative and sit at 79%, supporting the case for a bullish end to the year.
CryptoQuant noted the number of bitcoins held by short-term holders has been declining since late May, suggesting a weakening in demand.In contrast, long-term bitcoin holders appear to accumulate in the face of this short-term holder capitulation.
