In a historic night for crypto markets, bitcoin has blown past its previous all-time high (ATH) numbers, reaching $75,000 on several exchanges. This price action comes on the heels of several favorable announcements supporting the possible victory of former President Donald Trump in the U.S. elections, as his chances of winning the presidential race reached over 87% in crypto-based prediction market Polymarket. Trump has been considered the most pro-crypto candidate by the crypto community, and he has made promises leaning toward the clarification of crypto regulation, declaring that he would fire current Securities and Exchange Commission (SEC) Chair Gary Gensler on day one, and stop the current administration’s “anti-crypto crusade” if he wins.

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