The Block

Quick Take The UK government introduced a bill to Parliament looking to formally define crypto assets as a new form of property. The law, if passed, would introduce a third kind of property “to allow for certain digital assets to attract personal property rights.”

PolitiFi memecoins drop 9% in market cap following the debate.Trump-themed tokens suffer steep selloffs, with some down over 20%.

Quick Take The bitcoin miner said it will acquire seven mining facilities and associated land in Knoxville, Tenn., for $27.5 million, or about $324,000 per megawatt. The operating hashrate of the facilities is anticipated to result in 5 EH/s, which will increase CleanSpark’s current hashrate by over 22%.

Quick Take Bitcoin mining difficulty jumped 3.6% to hit an all-time high of 92.7 trillion on Wednesday. The positive adjustment comes after the Bitcoin network reached a record seven-day moving average hash rate of nearly 694 EH/s on Sunday.

The U.S. presidential debate has encouraged risk-off market sentiment and was a “sell-the-news” event, analysts said.Since the debate, Vice President Kamala Harris’s odds have risen in prediction markets.She is now tied with Trump at a 49% likelihood of winning the election on Polymarket.

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