Citibank: A Republican victory in the U.S. election would be most beneficial for Coinbase and the cryptocurrency market

ChainCatcher news, according to Coindesk, Citigroup (C) stated in a research report on Wednesday that a significant victory for the Republican Party in the upcoming U.S. elections would be the most favorable outcome for Coinbase and the cryptocurrency market, while a victory for Harris and a split Congress could lead to more uncertainty in the digital asset industry.

Analysts led by Peter Christiansen wrote, "The Trump/Vance combination has publicly supported digital asset reform, and Republican control of the Senate is crucial for passing bills like FIT21 and confirming pro-crypto institutional leaders. With consensus in both chambers of Congress, the pace of digital asset reform may accelerate."
However, the report noted that a Republican victory in the Senate and a Democratic victory in the House would still be beneficial for Coinbase and the cryptocurrency market. The U.S. elections will be held on November 5, with results announced on November 8.