U.S. stocks and cryptocurrencies plunged amid concerns that Democrats' sweep of both chambers of Congress could lead to tighter regulation of the AI industry. Democrats are also planning to investigate Trump family business dealings, including crypto-related ventures. The Nasdaq Composite fell 5.10%, the S&P 500 dropped 3.43%, and the Dow Jones Industrial Average declined 2.41% in intraday trading. According to Binance market data, BTC fell 5.97% to $75,695.68, after hitting a low of $75,568, while ETH dropped 7.29% to $2,247.74, with a low of $2,236.78. CoinGlass data shows that $879.92 million in crypto positions were liquidated over the past four hours, including $818.90 million in longs and $61.02 million in shorts. Over the past 24 hours, total liquidations reached $1.03 billion, affecting 198,192 traders, with the largest single liquidation occurring on Binance's ETHUSDT pair at $10.94 million.