A potential Republican sweep of both chambers of Congress would be the most bullish result for Coinbase and crypto markets, the report said.
A Republican sweep in the upcoming U.S. election would be the most bullish result for both Coinbase and the wider crypto market, while a Harris victory and a divided Congress would likely lead to more uncertainty for the digital assets sector, Citi said in a research report on Wednesday. Still, a GOP victory in the Senate and a Democrat win in the House would still be a bullish outcome for Coinbase and crypto markets, the report said. The U.S. election will be held on Nov. 5 and results will be declared on Nov. 8.
A Harris victory and a Republican Congress would be an uncertain outcome for crypto markets, as she is yet to detail her crypto policy goals, the bank said, and a Democrat administration would likely keep many of the current agency heads to avoid potential challenges with Senate confirmation.
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