Democrats exceeded expectations in the midterms and will hold the House and the Senate in the next session of Congress. That result is bad news for Trump family cryptocurrencies, since President Donald Trump's party no longer holds unified control across the presidency and both chambers. Some Democrats, including Ron Wyden, have signaled they plan to use Congress's oversight role, and Wyden posted a message about subpoenas on social media. Since polls closed, the MELANIA memecoin has fallen more than 5 percent and the TRUMP memecoin nearly 10 percent. Trump family-linked World Liberty Financial's governance token slipped about 3 percent after the first polls closed. Trump blamed Fox News for the party's losses and said he would become a political pundit.
Why it matters: It shows how political results in Washington can coincide with sharp moves in Trump-linked crypto tokens, drawing attention to ties between the president's family and digital assets.
Summary by Dextape, based on reporting by Protos. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.
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