[Grayscale: Crypto Industry Development Doesn't Depend on Washington; Democratic Victory Unlikely to Change Long-Term Growth Trend] According to a report by CoinDesk on November 5th, following the Democratic victory in the US midterm elections and their control of both houses of Congress, Zach Pandl, Head of Research at Grayscale, stated that the crypto industry's foundation is stronger than the efforts of the previous Congress. He added that the industry is bipartisan, global, and institutionalized, and will not stagnate due to the election results. Grayscale previously estimated that 80%–85% of global crypto activity occurs outside the US; however, this figure is only illustrative, and some indicators cover the entirety of North America. Robert Mitchnick, Head of Digital Assets at BlackRock, stated before the election results were announced that the election would have "little impact" on their product launches and capital inflows because Bitcoin and Ethereum already possess most of the regulatory clarity required for investment products.