The official results of the U.S. presidential election are not yet available. As of now, the Associated Press is reporting that Donald Trump has 267 electoral votes out of the 270 needed to win. With this in mind, many analysts are predicting a victory for the former US president, which is now almost certain.

Actual results of the US presidential election

It can also be argued that the Republicans will control the Senate and the House of Representatives. Accordingly, the Republicans will get a mono-majority and will determine what happens inside the country.

At the moment, users of the decentralised betting platform Polymarket estimate the probability of Trump’s victory at 99.6 percent.

Actual probability of victory of candidates in the US presidential election according to Polymarket data

A high probability of success is also relevant for the already mentioned victory of the Republicans in control of the Senate and House of Representatives.

The probability of the distribution of forces after the US election

What will happen to cryptocurrencies in America?

According to Proof of Stake Alliance Executive Director Alison Mangiero, there will be more seats in Congress occupied by people who consider themselves supporters of cryptocurrencies.

This is essentially the first time in its history that the digital asset industry has such a large influence, the expert noted in an interview with The Block. Here’s a comment on the matter.

Regardless of how each political race plays out, we’re going to have the friendliest Congress we’ve ever had. We still have a lot of work to do in terms of education and in terms of the industry, because we’ve poured so much money into these campaigns that now the real grind will begin.

Fairshake fundraising statistics

Even the presidential candidates themselves have built parts of their campaigns around cryptocurrency promises, which was a unique phenomenon in this election.

Vice President Kamala Harris has said her administration is going to encourage innovation in the face of artificial intelligence and digital assets while protecting consumers and investors.

Former US President Donald Trump at the Bitcoin 2024 cryptocurrency conference

Former President Donald Trump was more assertive in this regard. He pledged to end “illegal and un-American repression” of the crypto industry, launched his own crypto project called World Liberty Financial, and celebrated the firing of crypto-hostile SEC head Gary Gensler.

In addition, Trump announced the creation of a national crypto reserve, which will consist of previously confiscated coins by the US government. The politician is also going to pardon Ross Ulbricht – the creator of the Silk Road darknet platform, who received a double life sentence and 40 years on top for his actions.

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Meanwhile, to regulate crypto, one of the most influential Senate committees is the Banking Committee, with the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) having jurisdiction. Both agencies oversee cryptocurrencies.

The committee is now headed by Democratic Senator Sherrod Brown, who is critical of the crypto industry and is in a tight race in his state against cryptocurrency-friendly Republican candidate Bernie Moreno.

If the Senate turns out to be predominantly Republican, South Carolina state representative Senator Tim Scott could lead the Senate Banking Committee regardless of whether Brown wins his race.

Moreno has already defeated Brown, meaning this is definitely good news for the coin industry.

Former U.S. President Donald Trump

Scott, who is currently the top Republican on the Senate committee, has recently been supportive of the crypto industry. For example, in August, he proposed creating a subcommittee for the digital asset industry if he became its chairman.

Rep. Scott said the lawmaker plans to work to create a system to regulate digital assets if that happens. Here’s a rejoinder on the matter.

Senator Scott will work to create a regulatory framework that establishes a reliable pathway for trading and storing digital assets that promotes consumer choice, education and protection, and ensures compliance with the relevant requirements of the Bank Secrecy Act.

If Scott creates a subcommittee on digital assets, it could be a “precursor” to shaping future legislation solely on cryptocurrencies, said Ron Hammond, director of government relations at the Blockchain Association.

For example, the House Financial Services Committee has a subcommittee on digital assets. And it has already played an important role in pushing bills for crypto.

BTC updated an all-time high on the back of Trump’s victory

The positive scenario is becoming more and more realistic with each passing hour since the publication of this news. The next thing left to do is to wait for the change of power and evaluate the results of the officials’ work in practice.


The election results are shaping up in the most favourable way for the cryptocurrency industry. After all, the Republicans have already noted a positive attitude towards crypto and the desire to create a normal regulatory framework for this sphere. Besides, if Trump fulfils his promise, SEC Chairman Gary Gensler will be fired.

Look for more interesting stuff in our crypto chat room. Be sure to stay up to date with what’s happening inside the digital asset industry there.

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