TechFlow news, November 7 — According to Cointelegraph, following Donald Trump's victory in the 2024 U.S. presidential election, the outlook for cryptocurrency policy has undergone a significant shift. With Republicans now controlling the Senate and poised to secure control of the House, crypto supporters, including Coinbase CEO Brian Armstrong, are optimistic about a new administration that may be more favorable toward the digital asset industry.
Driven by the election results, Bitcoin surpassed $75,000 on November 6 as investors anticipate regulatory clarity, increased legislative opportunities, and potential changes at the U.S. Securities and Exchange Commission (SEC).
The Coinbase CEO stated that over 250 pro-crypto candidates were elected to the House, creating the "most pro-crypto Congress in history." Trump has pledged to fire current SEC Chair Gary Gensler on his first day in office, which could lead to the premature end of Gensler’s term originally set to conclude in April 2025.
