The Block
Quick Take An influx of crypto-friendlier candidates could be elected on Tuesday as funds from crypto firms ballooned in this election cycle. Senate races in Ohio and Montana could influence how crypto legislation is taken up next year. Whether Democrats or Republicans take the House and Senate would also determine who leads key committees that would take a lead on bills to regulate crypto and stablecoins.
Quick Take Polymarket’s prediction market for the 2024 U.S. presidential election winner hit $3.13 billion on Nov. 4 — one day before the election. Republican candidate Donald Trump amassed $1.2 billion in betting volume, while Democratic Vice President Kamala Harris accrued $782.5 million.
Quick Take Crypto traders are capitalizing on the death of Peanut the squirrel, a euthanized pet that has become a conservative cause célèbre.
Quick Take a16z crypto, the web3 venture capital arm of the investment firm Andreessen Horowitz, pledged over $23 million to Fairshake and its affiliated political action committees to support pro-crypto candidates ahead of the 2026 U.S. midterm elections. Tron founder Justin Sun and Sonic Labs co-founder Andre Cronje accused Coinbase of charging substantial “listing fees” despite the crypto exchange’s CEO Brian Armstrong recently reasserting that its asset listings are free. Standard Chartered-backed digi
Quick Take Hype, a new memecoin trading platform, has launched a “President Memecoin Index” enabling traders to track and trade tokens related to the upcoming U.S. election. A basket of Trump-themed tokens is up 86.9% since the presidential debate in September.
Quick Take Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos and Robinhood have partnered to release a new stablecoin network. The Global Dollar Network aims to accelerate stablecoin adoption worldwide and to incentivize new use cases for the stablecoin USDG.
Quick Take The Republican candidate’s embrace of the crypto community has helped push the price of bitcoin toward a new all-time and brought in hundreds of millions of dollars across prediction markets, memecoins and more. Below is a brief recap of Trump’s crypto pivot and what’s next following the U.S. elections.
Quick Take Mt. Gox transferred around 32,371 BTC to two unknown wallet addresses on Monday evening, according to Arkham data. The exchange moved 500 BTC last week, as it works to repay creditors.
Quick Take A bearish week for Coinbase’s stock saw the company fall below Block, the company behind Square, in total market capitalization. Barclays bank revised its stance on Coinbase on Friday, shifting its price target down to $169 from $206 but upgrading the company to “Equal Weight” from “Underweight.”
Quick Take Tether has quietly invested $102 million since July buying 9.8% of the shares of Adecoagro, a Nasdaq-listed agricultural giant which operates in South America. Adecoagro, Argentina’s main producer of milk and rice, also produces sugar cane in Brazil and other crops across Argentina and Uruguay. A Tether spokesperson said the investment in land, an inherently scarce “crucial asset class” that provides long-term yield, complements the company’s prior investments in gold and Bitcoin.
