Happy U.S. Election Day! In today's newsletter, we take a fresh look at the impact a win for Donald Trump or Kamala Harris could have on crypto, Mt. Gox moves billions of dollars in BTC, bitcoin mining difficulty breaks 100 trillion and more.
Meanwhile, analysts outline how to monitor what "smart money" is doing in crypto as the U.S. election results start to come in.
Let's get started.
A U.S. presidential election victory for Donald Trump could see Silk Road creator Ross Ulbricht pardoned and SEC Chair Gary Gensler fired, while the impact of a Kamala Harris win is less clear.
Defunct bitcoin exchange Mt. Gox transferred approximately 32,371 BTC, worth $2.2 billion, to unmarked wallets late Monday, according to the onchain analytics platform Arkham.
Bitcoin mining difficulty jumped 6.2% to hit an all-time high of 101.7 trillion on Tuesday, following the network's record seven-day moving average hash rate of over 750 EH/s last week.
Major "memefunds" on Daos.fun, including "ai16z" and "Norm Capital," have seen market caps drop by over 80% in the past week, with analysts suggesting the initial hype surrounding the funds may be fading quickly.
A token unintentionally created by blockchain sleuth ZachXBT has reached a $3.4 million market cap.
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