What’s everyone’s take on this midterm election? I think this might be the most impactful midterm election for the crypto industry. 1️⃣ The market will trade based on domestic policy expectations. Unlike before, the U.S. has now entered a critical phase of crypto reform. Not long ago, the Senate failed to secure the 60 votes needed to advance the CLARITY Act. As a result, $BTC dropped over 5% in a single day, and the stock prices of Coinbase and Circle fell by about 9%-10%. This shows that the market is now directly trading on U.S. Congress’s crypto policy expectations. 2️⃣ Uncertainty caused by a shift in congressional investigative power. If the Democrats take the House, Trump is still the president, and the policy direction of administrative departments like the SEC, CFTC, OCC, and Treasury won’t immediately reverse just because the House changes parties. Plus, the GENIUS Act for stablecoins has already become law in 2025, and a change in Congress won’t automatically invalidate it. However, the investigative power of Congress will no longer be on this side. The majority party in the House will control committee chair positions, and most committee chairs in the U.S. House have the authority to directly issue subpoenas, requiring companies, executives, and government departments to submit documents, communication records, and attend hearings. So, if there’s a shift in party control, the crypto industry might face: legislative uncertainty + a flood of hearings + conflict-of-interest investigations + foreign capital investigations. 3️⃣ The Trump family and the crypto industry. Trump himself and his family already have very direct business ties to the crypto industry. If, by any chance, the Democrats win the midterm election, will the Trump family—especially @EricTrump and the crypto projects he’s involved in—be affected? The two core crypto assets Eric is involved in: ① World Liberty Financial / USD1 ② Eric Trump’s American Bitcoin (ABTC) How much impact they’ll face is still unknown!