Crypto community declares Trump losing the Midterms is a bullish sign for crypto.
In fact, they believe him losing power is the most bullish sign for the market.
House Democrats are discussing plans to expand the amendment to the Clarity Act.
When the US Presidential elections took place two years ago, the crypto community was certain that Trump taking office would be a bullish move for the crypto market. Now, two years later, the crypto community declares Trump losing the Midterms is the most bullish sign for the crypto market. This is because Trump’s reign may have begun with good intentions for crypto, but pivoted to benefit the Trump family above all.
Crypto Community Declares Trump Losing the Midterms a Bullish Sign
Over the last two years, Trump’s administration has indeed worked hard to allow for easier use of the crypto market and technology. When he ran for office he made many promises, of which he immediately began to deliver. For instance, he replaced Gary Gensler and appointed pro-crypto members in apt positions of power. Next, he announced a strategic Bitcoin Reserve and worked on the Genius and Clarity Acts.
Thus, it looked like Trump was on the side of crypto users. However, over the next two years, it became clearer than ever that Trump was using these policies to boost his family holdings. What’s more, he went beyond crypto and used the war and tariffs to manipulate the stock market as well. During the Midterms, these exploits were exposed, allowing Democrats to win the House and the Senate.
https://twitter.com/venturefounder/status/2117964278841962592
As we can see from the post above, most crypto users see Trump’s loss for what it is. Perhaps when he ran for office Trump winning was bullish for crypto, but now after his corruption, his losing the elections will likely turn the tides and make what’s to come for crypto highly bullish. The post goes on to state how Trump defeated every single promise and destroyed the industry, making him losing power a win for crypto.
Could Trump’s Loss Be the Most Bullish Sign for Crypto?
https://twitter.com/EleanorTerrett/status/2118041922011021418
As for those wondering if Democrats will go pro-crypto, the reporter in the post above shares her scoop that House Democrats are discussing plans to expand the Crypto Investor and Consumer Bill of Rights. Specifically, they are looking at the amendment to the Clarity Act in 2025, into a broader crypto “market structure” bill next Congress.
The proposal would fold in Democratic Clarity Act provisions originally offered by Waters in the House (which were not adopted), as well as provisions Senate Democrats were able to agree to with Republicans before the September cloture vote, according to three industry sources who have spoken with Democratic staffers. Some of the proposals under discussion are said to include giving the SEC more of a role in supervising the crypto markets, and a more limited role for the CFTC.