The blockchain industry might get a boost as former U.S. President Donald Trump wins a second term, promising to keep his promises, including a long list of Bitcoin- and crypto-related pledges.

Quinn Thompson, the founder of crypto hedge fund Lekker Capital, shared with CoinDesk why he was so confident Donald Trump would win the U.S. presidential election despite the polls.

Analysts expect a broad market rally and changes in SEC leadership. Trump’s crypto policies include a bitcoin strategic reserve, banning a central bank digital currency and freeing Ross Ulbricht.

While sell-the-fact price slide looks unlikely, traders still need to watch out for the other side of the Trump trade – hardening bond yields and rising dollar index, says CoinDesk analyst Omkar Godbole.

Stablecoin and market structure bills may now both see faster progress, the report said.

The latest price moves in crypto markets in context for Nov. 6, 2024.

MicroStrategy and Coinbase both added 12%, with bitcoin miners also gaining more than 10% in pre-market trading.

As Donald Trump’s path toward the White House became clearer, the industry had already scored huge, getting many new allies in Congress and a serious Senate hurdle removed.

Solana has a reputation as a memecoin hub, but financial institutions are looking to build on the network.

Up-to-the-minute coverage on the presidential and congressional races and how they stand to shape crypto legislation and regulation.