Crypto News: Democrats Win Congress as $133M Theft Emerges

Crypto news today centers on a potential shift in US crypto policy and a major suspected theft. According to an Associated Press vote tally cited by CoinTelegraph, Democrats had secured 228 seats in the House versus Republicans’ 139, with 68 races still uncalled. Democrats also held 54 Senate seats compared with Republicans’ 44, giving the party control of both chambers and greater influence over digital-asset legislation.

CertiK head of US government affairs Stefan Muehlbauer said the election result effectively leaves the CLARITY Act, which would establish a framework for crypto markets, likely dead during the remaining lame-duck session and the next Congress. He expected Sen. Elizabeth Warren and Rep. Maxine Waters to lead the Senate Banking Committee and House Financial Services Committee, respectively. Democratic control could also bring increased scrutiny of digital-asset businesses linked to the Trump administration.

Onchain investigator ZachXBT identified French banking group Crédit Mutuel Arkéa as the alleged victim of a crypto theft exceeding $133 million. The suspect transfers were first reported at more than $106 million before ZachXBT found an additional $27 million in withdrawals, some occurring after the initial activity. He also suggested that losses could be higher once over-the-counter transactions are included.

The allegations have not been independently verified, and ZachXBT has not disclosed how the attackers accessed the funds. Market data accompanying the report listed Bitcoin at $80,508.56, up 5.72%, as the election developments and the suspected theft highlighted the contrasting regulatory and security challenges facing the crypto industry.