Grayscale: Crypto industry growth does not depend on Washington; Democratic win unlikely to change long-term growth trend

TechFlow news, Nov. 5, as reported by CoinDesk, after the Democrats won the U.S. midterm elections and will control both chambers of Congress, Zach Pandl, Head of Research at Grayscale, said the foundation for crypto industry development is deeper than the efforts of the previous Congress, and the industry has bipartisan, global, and institutional characteristics that will not stall because of election results. Grayscale previously estimated that 80%–85% of global crypto activity occurs outside the United States, but the data is only an illustrative calculation, and some metrics cover all of North America.

Robert Mitchnick, Head of Digital Assets at BlackRock, said before the election results were announced that the election would have 'little impact' on its product launches and inflows, because Bitcoin and Ethereum already have most of the regulatory clarity needed for investment products.

Source: TechFlow