Democrats regained control of both chambers of Congress in the midterm elections, with a projected 51 Senate seats and 244 House seats. Bitcoin fell to $76,700 amid political hostility toward the crypto industry. Representative Robert Garcia is set to become chair of the House Oversight Committee and investigate issues including the Trump family’s crypto ventures. Democrats unanimously blocked the Clarity Act in September, but analysts said regulators could still provide practical guidance on classifying crypto assets and regulating crypto companies.
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