The race for US President is underway, and the votes are starting to be counted. Although official results are still not reported, things are heating up on the most popular crypto prediction market – Polymarket.
Donald Trump's chances of winning the election have now skyrocketed to almost 90%.
It's important to remember that Trump has been very vocal about his intentions toward the cryptocurrency industry and the regulations governing it.
At a Bitcoin conference earlier this year, he said that one of his first acts as president would be to immediately fire Gary Gensler, the current chairman of the Securities and Exchange Commission, who is known for his negative approach to the industry.
He has also toyed with the idea of eliminating taxes on cryptocurrencies created in the US and imposing tariffs instead.
Meanwhile, as reported by CryptoPotato, the price of Bitcoin has just reached a new all-time high. It hit a local high of around $75,000.
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