Anna's Wednesday Morning Edition, the morning after the midterms: Democrats flipped both the House and the Senate, and the clock is now ticking on the CLARITY Act. If it doesn't pass by January, the new Congress starts from scratch. Bitcoin dropped to a seven-week low on the early returns, then bounced back toward $78K. Plus, Jack Dorsey's Block faces a $764M DOJ settlement, and ZachXBT names a French bank in a $133M+ crypto theft. THE MARKET TODAY Bitcoin: $78,225, up about 2% in 24 hours after an overnight low near $75,600. Down about 3% on the week and 9% on the month. Market cap: $1.57T. Dominance: 59.4%. Total crypto market: $2.64T. Ether: $2,301, up about 2%. Zcash up about 12%. 38% below the all-time high. Fear & Greed: 34, Fear (up from 26). THIS MORNING'S SEGMENTS - The Blue Wave Hits Crypto: citing the AP, Cointelegraph reports Democrats won the Senate, flipping seats in Texas, Ohio, North Carolina, South Carolina, Kansas and Iowa, for 51 seats. They also took the House, with Hakeem Jeffries in line for Speaker and committees getting oversight of Trump-linked crypto ventures. Troy Jackson beat Susan Collins in Maine. Sherrod Brown beat Jon Husted in Ohio, a blow to Fairshake (The Block). The CLARITY Act must pass by January or start over. 1inch's Maylea Ma expects the SEC, CFTC and Treasury to drive the rules. - Dip, Then Rip: Bitcoin briefly sank to $75,700 on early returns (CoinDesk), and long liquidations neared $300M (Cointelegraph). Then a V-shaped comeback toward $78K as the uncertainty faded (CoinDesk). - Block Pays Up: Block faces a $764M DOJ settlement to resolve an anti-money-laundering probe. Its quarterly bitcoin gross profit halved after Cash App cut its trading fees (CoinDesk). Shares rose 6% after hours on a raised $12.63B gross profit forecast (The Block). - The Victim Has a Name: ZachXBT named Crédit Mutuel Arkéa as the alleged victim of a theft of more than $133M. The bank hasn't confirmed (Cointelegraph). He says it's likely not Lazarus (The Block). The Binance hacker keeps swapping stolen SOL into BTC through THORChain (U.Today, citing Lookonchain). THORChain restored swaps on 10 of 13 networks and RUNE rose 15% (Cointelegraph). - Rapid Fire: South Korea's ruling party wants to delay its crypto tax by about two years (CoinDesk, The Block). Justin Drake targets December 2028 for Ethereum's post-quantum upgrade (Cointelegraph). An SEC division calls Canton Coin a digital commodity (The Block). GitBook was hit by an AI-assisted breach, so rotate your keys (Decrypt). - Nostr Desk: Washington changed hands overnight, but nobody gets elected to run Nostr. Open NIPs, portable follow lists, and no algorithm picking who gets heard on election night. ON THE SITE TODAY Free tools tied to this morning's news: the News Explorer, the DCA calculator, the cryptocurrency market capitalization index, the DEX Screener and the Nostr Desk. ADVERTISE Exchanges, wallets, compliance shops and Bitcoin businesses: get seen before the new Congress rewrites the rules, at thebitcoinstreetjournal.com/advertise (first item under Media). Choose site-wide display ads, newsletter sponsorships, sponsor reads on the show or Nostr reach, or mix a custom package. Our team helps with creative and placement. LISTEN ANYWHERE Find every edition on Spotify, Apple Podcasts, iHeartRadio, Pandora, Fountain, Pocket Casts and Podcast Addict, and watch "The Bitcoin Street Journal" on YouTube. Follow, rate and share. General information only, not investment advice. Digital assets are volatile, so always do your own research.
