Up-to-the-minute coverage on the presidential and congressional races and how they stand to shape crypto legislation and regulation.
CRYPTO LOOKING FOR A LIFT
Crypto is hoping for an post-election lift, because it’s been an ugly year for most major crypto assets so far. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins and exchange tokens — is up 12% on the year, that’s mostly thanks to bitcoin (BTC), which has gained 59%. Bitcoin is weighed at 31% in the index, while ether (ETH) is worth 20%. The fact that these two assets are up year-to-date means that the bloodbath suffered by most of the other cryptocurrencies in the index has been somewhat concealed.