Olga Kharif

Bitcoin jumped to a record as traders around the world watched results trickle in from a US presidential election that pits digital-asset supporter Donald Trump against Kamala Harris, who served as vice president during a government crackdown on the industry.

Bitcoin jumped to a record high, part of a wave of trades across global markets in response to Republican nominee Donald Trump’s push toward victory over Democratic rival Kamala Harris in the US presidential election.

Even before the US presidential election results are in, Andreessen Horowitz has pledged more than $23 million to the political action committee Fairshake and its affiliates to support crypto-friendly candidates during the midterm elections in 2026.

World Liberty Financial, the crypto project being promoted by former President Donald Trump, disclosed that its $300 million offering of tokens is primarily being marketed offshore, with fewer than 350 US investors buying the digital asset so far.

Tether Holdings Ltd., the British Virgin Islands-incorporated operator of the largest stablecoin, said it posted net profit of $2.5 billion in the third quarter, largely driven by gains realized on its holdings of US Treasuries and gold.

The US-based cryptocurrency exchange Kraken is laying off workers as part of organizational changes following the appointment of a new co-chief executive, according to a spokesperson for the company.

Bitcoin hedge-fund proxy MicroStrategy Inc. posted a third consecutive quarterly loss after taking an impairment charge against the value of its roughly $18 billion stockpile of the cryptocurrency.

Coinbase (COIN) Turns Profitable as Revenue Doubles During Crypto Rally

Consensys Inc., a software provider for the Ethereum network, is eliminating 162 positions, or 20% of its workforce.

Of all the legal actions taken against cryptocurrency companies by US regulators and prosecutors over the past year, arguably none threatens to shake up the digital-asset industry as much as a potential crackdown on Tether Holdings Ltd.

Cryptocurrencies dipped across the board following a report that the US was investigating the issuer of the Tether stablecoin that underpins much of the trading in the digital asset world.