Tokens linked to U.S. President Donald Trump led losses among the top 100 digital assets on Wednesday after Democrats swept the U.S. midterm elections, even as the broader crypto market advanced. According to Cointelegraph, Official Trump (TRUMP) fell 17% over 24 hours to $1.33, while World Liberty Financial (WLFI) dropped more than 7% to $0.047, based on CoinMarketCap data from around 5:32 p.m. UTC. TRUMP, the president’s official memecoin, launched in January 2025, while WLFI is the governance token of World Liberty Financial, a Trump family-backed decentralized finance project launched in 2024. Democratic victories, including surprise wins in Texas, followed Tuesday’s elections, with the party winning control of both the House and Senate from Republicans. The results could make it harder for Trump to advance his crypto plans and bring additional scrutiny to his family’s crypto businesses. Bitcoin rose more than 4% over 24 hours to around $80,500, and Ether gained 6% to $2,433. BNB rose 3%, XRP gained 2.6% and Solana climbed 2.5%, while the overall crypto market increased 3.4% to $2.69 trillion. Losses also affected other politically linked tokens. MELANIA, associated with First Lady Melania Trump, fell nearly 13% over 24 hours to around $0.066. VANCE, a token named after Vice President JD Vance with no confirmed official connection to him, dropped nearly 12%. The political memecoin sector’s market capitalization declined more than 16% on the day to $477 million, while trading volume jumped 123% to $437 million, according to CoinMarketCap data. Benjamin Sarquis Peillard, founder and CEO of DeFi platform Cap, told Cointelegraph that politically linked tokens may be more sensitive to changing expectations in Washington than established assets, which also respond to liquidity, institutional flows and macroeconomic conditions. He said the selloff may reflect a short-term election reaction, while raising questions about what could sustain demand beyond a token’s association with a political figure. The results also add uncertainty around U.S. crypto legislation, including the stalled Digital Asset Market Clarity Act, or CLARITY Act. The bill failed to advance in the Senate earlier this year after falling short of the 60 votes required. Democrats sought stronger ethics provisions and safeguards against conflicts of interest involving Trump’s crypto ventures, while four Republicans also opposed advancing the legislation. Peillard said the broader industry’s key question is whether Congress can establish a durable regulatory framework regardless of which party holds power.

U.S. District Judge Valerie Caproni rejected the Capital Markets Alliance’s request for a temporary restraining order over single-stock perpetual contracts. According to Odaily, the court found that CMA had not shown its members faced imminent, irreparable harm, but said its claim that the Commodity Futures Trading Commission exceeded its authority could prevail. The court said the contracts appeared not to meet the definition of “security futures” and seemed closer to swaps regulated by the Securities and Exchange Commission.

Stocks rose as Democrats secured control of Congress in a rebuke to US President Donald Trump, Bloomberg reported.

According to ChainCatcher citing Pliant, the company raised $80 million in a Series C round led by Seaya Nova and Speedinvest, with Illuminate Financial, Motive Ventures, and Molten participating. Pliant said it will use the funds to expand in the United States and Canada, enter more international markets, and accelerate its AI payments roadmap. Pliant said its business has doubled for three consecutive years and its annual recurring revenue has exceeded $100 million. Through the Model Context Protocol (MCP), the company can make its B2B payments infrastructure available to external AI agents, including Claude and ChatGPT.

French Hill’s reelection remained too close to call Wednesday afternoon as Democrats’ House takeover is set to reshape crypto legislation. Hill held a slim lead with 99% of votes reported, according to The Block, citing the Associated Press. As Financial Services chair, he oversaw a federal stablecoin framework and a crypto bill that stalled in the Senate in September; PACs spent $1 million on his campaign. Bill Huizenga lost to Sean McCann, while Stand With Crypto-endorsed Shomari Figures beat Rhett Marques. Maxine Waters is expected to retake the committee chair, with Sean Casten and Bill Foster also seeking the post.

According to CNBC, Qnity Electronics reported third-quarter revenue of $1.56 billion, up 22% from a year earlier and above the $1.49 billion analyst consensus, while adjusted earnings per share rose 55% to $1.46, topping the $1.20 estimate. The stock fell nearly 6% intraday before recovering most of its losses. Jim Cramer lowered his price target to $165 from $180, maintained a buy-equivalent rating and said the post-earnings decline made the shares more attractive; the revised target implies 38% upside from current levels. Qnity raised its full-year outlook, expecting sales of $5.77 billion to $5.83 billion and adjusted earnings per share of $4.95 to $5.05.

According to CNBC, options volume in Rocket Companies was double its average, with 90% of the 110,000 contracts traded being calls. More contracts were likely initiated by buyers than sellers, and the most active bullish positions were 14- and 16-strike calls expiring Nov. 20.

According to CNBC, voters backed restrictions on data center construction in all but one of 41 local ballot measures across 10 states during the 2026 midterms, based on Ballotpedia’s analysis and additional results gathered Wednesday. In Harwood, North Dakota, voters rejected a charter amendment that would have required additional review before the city approved industrial developments, including data centers.

Despite the Democrats sweeping both houses of Congress, AI stocks initially fell before rising, indicating that the market is truly trading on the difference between expectations and regulations.

With Democrats gaining a majority in both the House and Senate, control over crypto legislation has shifted, and investigations into the Trump family's digital asset business will take priority over pushing for new legislation.

Jinse Finance launches the "Jinse Web3.0 Daily," providing you with the latest and fastest news on AI, DeFi, DAO, NFT, and the metaverse.

OFAC has added 10 individuals and 1 entity to its sanctions list to crack down on North Korea’s overseas IT personnel network and its cryptocurrency transfer channels.

The Democratic Party won both houses of Congress in the US midterm elections, marking Trump's worst political defeat since taking office.

Intel's stock price plummeted 28.58% in a single day, retreating more than half from its peak, dragging down the global semiconductor sector. The AI ​​narrative is shifting from buying computing power to demanding returns.

Initial reports of the $6.34 billion theft from Binance point to a fake interview, which North Korea denies, but the real mystery lies in the attackers' ten-day infiltration.

Wang Yongli explained the legislative process for stablecoins in the United States and pointed out that China should not follow suit by issuing RMB stablecoins, but should adhere to the main theme of digital RMB.

A meticulously planned fake interview allowed hackers to infiltrate Binance's core wallet from employee computers over nearly five months, resulting in the theft of $6.34 billion in assets.

During its earnings call, Robinhood listed its stock token TVL, on-chain financial applications, and US users as its real KPIs, while Meme token trading was just the first phase of demand.