Cointime update: Democrats have won control of the US House in the midterm elections, securing a share of Congress, with the party set to take control of House committees in January 2027. The committee gavels will give Democrats the power to investigate President Donald Trump’s administration.
Cointime update: Democrats swept both chambers of Congress in the US midterm elections on November 4 Beijing time, flipping six Senate seats and winning 234 House seats. In Ohio, Democrat Sherrod Brown defeated Republican Jon Husted with 48.8% to 46.3%, despite roughly $63 million spent by crypto-affiliated PACs and donors against him. Bitcoin briefly fell below $76,000 before the results, then rose past $78,000.
Cointime reports: Bitcoin fell to a seven-week low of $75,618, with 24-hour crypto long liquidations approaching $300 million. The move came as Democrats swept Congress. The price later bounced from that low.
Cointime reports: Tron’s ecosystem has spent more than $120 million on token buybacks and burns across JST, SUN, BTT and WIN, the network’s four core assets. JST has completed five burn rounds totaling 19.01% of supply, with over $100 million funded mainly by JustLend revenue. BTT and WIN completed first burns of 2.18% and 6.74% of supply, while SUN has run 52 rounds totaling 3.44%. JST is up over 318% since buybacks began.
Cointime update: Ethereum researcher Justin Drake said the network aims to complete its post-quantum and post-AI transition by December 2028, a year ahead of the previously discussed timeline. Drake described the 2028 target as a “hope” rather than a firm commitment. The transition would harden Ethereum against quantum computing threats.
Cointime reports: French bank Crédit Mutuel Arkéa has been exploited for more than $133 million. He said he has a “high degree of confidence” that the attacker is not associated with North Korea’s Lazarus Group, ruling out the state-linked hacking collective as the perpetrator of the incident.
Cointime reports: Democrats have claimed control of the US Senate, a shift that could alter the path for the CLARITY Act, reshape committee leadership and bring closer scrutiny of President Trump’s crypto businesses. The change in Senate leadership puts crypto legislation and oversight of Trump-linked digital asset ventures on a new footing.
Cointime update: Former Democratic Sen. Sherrod Brown has won back his Senate seat, defeating Jon Husted in a result that deals a blow to the crypto political action committee Fairshake. The outcome leaves the industry-backed PAC, which had spent heavily on races, without a win in the contest.
Cointime update: Block Inc. shares rose 6% in after-hours trading after the company raised its full-year gross profit forecast to $12.63 billion, a figure that would represent 22% year-on-year growth. The upgraded outlook was issued alongside the company’s latest results.
Cointime update: South Korea’s ruling party has formally proposed deferring the country’s crypto income tax, with its leader saying the Digital Asset Basic Act should be enacted first. The proposed comprehensive legal framework would set rules for digital assets before taxation takes effect. No timeline for the deferral was given.
Cointime update: OpenAI said future AI data centers could be rebranded and designed to ease pressure on power grids by cutting electricity demand during emergencies, the ChatGPT maker stated. The company framed the facilities as grid-protection assets rather than pure power drains. No timeline or specific site was given for the approach.
Cointime update: Tether CEO Paolo Ardoino said at the Plan ₿ Forum in Lugano that the company owns “give or take 150,000 Bitcoin,” roughly 50,000 more than its Q3 reserve report implies. The report shows Tether holding 100,060 BTC, leaving a gap of about 50,000 bitcoin between the CEO’s figure and the attested reserve disclosure.
Cointime update: The SEC’s Division of Corporation Finance has issued a no-action letter stating it will not recommend enforcement action over Canton Coin’s programmatic issuance, classifying CC as a digital commodity. The position applies to the programmatic distribution of the token, which underpins the Canton Network. The letter gives the token’s issuers a measure of regulatory clarity on the asset’s status.
Cointime reports: Anthropic’s Claude AI model is becoming cheaper to use, with prices falling, but the company’s computing expenses grew faster than sales in the latest quarter. The widening cost-sales gap poses a challenge for the AI developer as it prepares for an initial public offering.
Cointime update: Changpeng Zhao, in his first interview since the Binance hack, said AI is accelerating cyberattacks and called for the crypto industry to form a security alliance. The former Binance CEO made the remarks as the exchange continues to deal with the aftermath of the breach. He did not provide details on the alliance’s structure or membership.
Cointime reports: Prediction market bettors are increasingly pricing in Democrats winning both the House and Senate as polls close across the U.S. on midterm election night. The shift in odds comes ahead of results, with markets favoring a Democratic sweep of both chambers.
Cointime update: Justin Sun is seeking sanctions against World Liberty Financial, alleging the Trump-linked firm concealed its UAE citizenship to escape federal court and plans to refile his $45 million lawsuit in California state court. Sun claims World Liberty hid its UAE ties in the ongoing legal dispute. The refiling moves the case from federal to state court in California.
Cointime update: The CFTC has approved exchanges in the United States to offer perpetual futures contracts tied to individual stocks, marking the first time such products can trade domestically. The decision opens a new derivatives category for US venues, extending the perpetual structure long used in crypto to single-name equities.
Cointime update: Binance said hackers used a fake job interview and an internal AI tool to gain access to systems involved in a theft. The exchange linked the breach to a $6.3 billion figure in its account of the attack. Binance’s report details how the attackers combined social engineering with internal tooling to reach the affected systems.
Cointime update: The Aztec Foundation has deployed the Tierra V6 upgrade for its Ethereum Layer 2 network, saying the release fixes earlier security issues and doubles the speed of private transaction proof generation. The upgrade targets faster private applications on the network. Aztec did not disclose a deployment date or further technical details.