Biggest day for crypto ever? 🤔

GM Builders. 🚧 

Welcome back to the BW3 newsletter, where we break down the web3 chaos so you don’t have to. 🥂 

Here’s the dealio today:

• Crypto Election Results 🇺🇸 

• Top News in the Mainstream Today 📰 

• Deal flow over last 7 days 💸 

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CRYPTO ELECTION RESULTS 🗳️

The crypto tide has turned, and it’s leaving anti-crypto voices in the dust. With a wave of pro-crypto candidates filling seats in Congress, it’s clear that the days of dismissing digital assets are numbered.

The 2024 election results are clearly swinging in favor of a pro-crypto Congress:

House of Representatives: A whopping 205 pro-crypto candidates were elected, compared to 99 anti-crypto candidates. This substantial pro-crypto majority could set the stage for more favorable legislation, with a strong possibility of advancing crypto-friendly policies without too much opposition. This shift reflects the growing influence of the crypto lobby and indicates a significant win for digital assets in U.S. politics.

Senate: With 14 pro-crypto candidates and only 8 anti-crypto, the Senate also leans towards a pro-crypto stance, albeit with a closer margin. While this isn't as overwhelming as the House, it’s enough to sway critical votes in favor of the crypto agenda, especially with key allies in strategic positions.

Broader Implications: This result is being celebrated as a historic win for the crypto sector, positioning this Congress as one of the most supportive in U.S. history. The turnout and support from crypto voters signal that digital assets are now a substantial political issue, not just a niche interest. The industry's investments in political campaigns appear to be paying off, with expectations of clearer regulatory frameworks and fewer hurdles for innovation in blockchain and digital assets.

It’s official: being anti-crypto is so last season. With pro-crypto candidates now dominating the House and holding a strong edge in the Senate, it seems America’s political landscape just got a blockchain overhaul. Gone are the days when dismissing crypto was the trendy move—today, it’s all about standing with the future of digital assets. The message from voters? Clear as Bitcoin on the blockchain: we’re done with the anti-crypto rhetoric, and we’re here to build.

TOP 5 IN MAINSTREAM 📰 

Welp, you guessed it! The top news articles are all around the hype of the election but gives some perspective into what’s next for the burgeoning industry of digital assets. 🫣 

Let’s dive into the impact of Trump’s crypto-friendly victory and what it means for the industry:

• Bitcoin Price Action Frenzy: In the hours following Trump’s win, Bitcoin shot up to a new record high of $75,345 before stabilizing around $73,500. This 8% surge underscores the market’s optimism about his pro-crypto stance and promises of lighter regulations.

• Will Promises Be Kept? Trump positioned himself as the crypto candidate, vowing to protect the industry from restrictive regulations. CNBC reported his campaign’s pledge to roll back policies that hinder innovation, hinting at a more welcoming regulatory climate.

• Big Spend, Big Wins: The New York Times noted how heavy crypto industry spending in the election cycle paid off, as numerous pro-crypto congressional candidates claimed victory. It’s clear that the industry’s lobbying and campaign investments are reshaping the political landscape in its favor.

• End of an Era for Gensler? With Trump back in office, there’s speculation about Gary Gensler’s tenure as SEC chair. Fortune suggests Gensler, seen as crypto’s regulatory roadblock, may soon be replaced, potentially opening the door for a more favorable approach to crypto oversight.

• Analyst Projections: According to Forbes, analysts predict that Bitcoin could experience more price swings as Trump and his administration lay out their regulatory plans. The bullish sentiment from Trump’s win might continue driving Bitcoin and other digital assets up—at least until new policies settle in.

With Trump in the White House and a freshly pro-crypto Congress, the stage is set for a pivotal era in crypto regulation. Keep an eye on Bitcoin’s response—it might just be the beginning.

DEAL FROM OVER LAST WEEK 💵 

As the crypto ecosystem grows more complex and interconnected, strategic investments continue to pour in, fueling projects that promise to push the boundaries of decentralized infrastructure, privacy tech, and blockchain ecosystems. Here’s a quick roundup of the top deals that caught our attention this week:

1. Glow Labs

   • Round: Unknown

   • Raised: $30M

   • Category: DePIN, Ethereum Ecosystem

   • Investors: Framework, Union Square Ventures

   • 🪄 Glow Labs is lighting up the Ethereum ecosystem, with major backers betting on its potential to redefine decentralized infrastructure.

2. Ellipsis Labs

   • Round: Unknown

   • Raised: $20M

   • Category: DeFi, DEX, Solana Ecosystem

   • Investors: HAUN Ventures

   • 🌀 Ellipsis Labs is making waves on Solana, with a fresh injection of capital to expand decentralized finance capabilities.

3. Chainway Labs (Citrea)

   • Round: Series A

   • Raised: $14M

   • Category: Bitcoin Ecosystem, Infrastructure, Zero-Knowledge

   • Investors: Founders Fund, Maven11, Mirana, and 16 others

   • 🛡️ Chainway is bridging infrastructure and privacy for Bitcoin with zero-knowledge tech, setting new standards for secure, decentralized finance.

4. Vlayer

   • Round: Pre-seed

   • Raised: $10M

   • Category: Data Service, Infrastructure, Zero-Knowledge

   • Investors: Al6crypto, Blocktower, and Credo

   • 🌐 With a strong focus on data security, Vlayer is positioning itself as a critical player in zero-knowledge infrastructure development.

5. Spire Labs

   • Round: Seed

   • Raised: $7M

   • Category: Ethereum Ecosystem, Infrastructure

   • Investors: Maven11, Anagram, CSX, and 10 others

   • 🔺 Spire Labs is set to soar, reinforcing Ethereum’s infrastructure with support from prominent investors.

As these projects gather steam, keep an eye on these names—today’s seeds could very well be tomorrow’s giants in the good ole web3. 🕸️ 

MEME CITY 🏙️ 

Until Next Time Builders! 🏗️ 

Keep grinding and grooving. 🪩