WORLDTECHBitcoin & Crypto DEVELOPING
Bitcoin rises to $80,500 after Democrats win Congress, Bitwise sees limited Binance hack impact
Bitcoin climbed 3.5% to $80,500 and ether jumped 6% after Democrats won Congress, according to The Block. Bitwise, meanwhile, says a hack at Binance had only limited impact on the market.
Prices move higher after the midterms
Bitcoin rose 3.5% to $80,500 while ether jumped 6%, The Block reports, with both moves coming after Democrats won Congress. The report links the timing of the gains to the election outcome.
Bitwise judges the Binance hack contained
Bitwise says the hack affecting Binance had limited market impact, a view reported by The Block. Binance is a cryptocurrency exchange and finance company based in the United Arab Emirates and founded in 2017.
Open questions
- How long will the gains in bitcoin and ether last after the election result?
- What was the scope of the Binance hack and which users or funds were affected?