Democrats have won control of both chambers of Congress in the midterms, winning House seats in districts where Trump beat his Democratic opponent by up to 18 percentage points in 2024. They also flipped at least seven Senate seats in Kansas, Iowa, Texas, Ohio, Maine, North Carolina and South Carolina, according to the Associated Press. From January 2027 they will take control of House committees, allowing subpoenas and investigations into the Trump administration and his family's business interests, which could reshape the outlook for crypto legislation and bring greater scrutiny of Trump-linked digital asset businesses. Commentators cited affordability, including high energy costs and renewed rate increases, as the defining issue, while David Gokhshtein blamed Republican candidates for failing to connect with voters. Prediction markets had put the chance of Democrats winning both chambers at roughly 75% before the results were announced.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Cointelegraph ↗
Keywords
midterm electionsDemocratic PartyDonald TrumpcryptoUS
Open a keyword to see other news on the same topic.
Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 11/03/2026 | 101.86 |
| Change that session | +0.06% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Trump congratulates Democrats on winning both chambers of Congress, pledges cooperation
After Republicans lost control of both the Senate and the House, President Donald Trump told Fox News that Democrats “did a good job” and that the midterm loss was not a major blow to him. He said his administration cannot work with Democrats on every issue but could cooperate on immigration, and claimed the past two years were the best economic period in his presidency’s history. He congratulated Democrats for waiting 11 years for this win. Senator Kirsten Gillibrand said the blue wave was much bigger than she had imagined. Trump said Republicans have a pool of potential 2028 presidential candidates, though it is still too early to identify them.
- Crypto is making a splash in U.S. elections — but chiefly in jabs about industry influence
Crypto has become a campaign issue in the U.S. midterms, mainly as a target of Democratic attacks rather than a topic in industry-funded ads, which avoid mentioning it. Democrats including Mark Warner and Sherrod Brown link the sector's political spending and its ties to President Donald Trump to corruption concerns. Brown said the crypto and data-center crowd had reached up to $40 million in spending, with much of the opposition ads against him in Ohio funded by the Fairshake super PAC. Fairshake also spent $2 million in a failed bid to defeat Oliver Gilbert in a Florida primary. A Fox News poll found 88% of voters were at least very concerned about government corruption, a top issue that gives these attacks weight.
- What Trump losing power over Congress means for Iran, Ukraine and foreign policy
According to CNBC experts, with Democrats taking control of Congress, President Donald Trump could focus more on foreign policy in his final two years in office, while facing closer scrutiny over the wars in Iran and Ukraine. The Associated Press projects Democrats will win a Senate majority and have also taken control of the House, giving them more scope to scrutinize the administration and challenge Trump's foreign-policy agenda. Laurel Rapp of Chatham House said Democrats could use the 'power of the purse' to limit spending on U.S. military and Iran-related costs, but making such restrictions binding over a presidential veto would require enough votes to override it. J.C. Lintzenich of the German Marshall Fund said the president is not a 'lame duck' since he still holds considerable foreign-policy authority, while Congress is expected to provide more oversight, including on Ukraine funding required by law.
- Democrats Have Retaken the House and Senate -- but There's an Even Bigger Winner Today
According to the Associated Press, Democrats have taken control of both the House of Representatives and the Senate, and President Trump will work with a Democrat-led Congress starting in early January. The article notes that a divided Congress is unlikely to pass major tax and spending bills, but could complicate debt-ceiling talks in 2027 and raise the risk of a lengthy government shutdown, while Democrats favor stricter AI rules such as limiting data center expansion. Prediction markets put Democratic control at 94% for the House and 77% for the Senate, while UBS assigns a 50% probability to Democrats winning both chambers. Citing Retirement Researcher, the article says the S&P 500 has averaged 16.63% annual gains since 1926 under a Democratic president and a divided Congress, versus 7.33% under a Republican president and a split Congress. The article argues that company operations and innovation, rather than political outcomes, are the main drivers of long-term investor returns.
- Midterm Takeaways: Tech billionaires suffer horrible night as Democrats drub Republicans
Democrats took control of Congress on Tuesday night, a sharp rebuke to President Donald Trump and his economic record, as voters voiced frustration over rising prices, government corruption and the AI data center build-out. Democrats won key Texas races, with James Talarico defeating Ken Paxton for a U.S. Senate seat and Gina Hinojosa defeating Gov. Greg Abbott, the first Democratic governor of Texas since Ann Richards left office in 1995. Democrats also won in South Carolina, Ohio, Iowa, North Carolina, Georgia and New Hampshire, while many Trump-endorsed candidates lost. Elon Musk, the cycle's largest individual political donor, spent record sums backing Republicans without success, and his spending may have become a liability as voters raised concerns about billionaire influence. The result is expected to make Congress more adversarial toward tech companies and AI data center projects, and futures for the Dow and S&P 500 slipped as the gains became clear.
- U.S. midterm elections in pictures: Democrats' sweeping victories deliver rebuke to Trump
Democrats won sweeping victories in the U.S. midterm elections, flipping key Republican-held seats and projected to gain control of both chambers of Congress. In Texas, James Talarico defeated Ken Paxton to become the state's first Democratic senator since 1988, while Gina Hinojosa unseated Gov. Greg Abbott. In North Carolina, Roy Cooper flipped a Senate seat, while in Georgia Jon Ossoff won reelection and Keisha Lance Bottoms became the first Black woman elected governor of a U.S. state. In Ohio, Sherrod Brown defeated incumbent Sen. Jon Husted. The article describes the results as a referendum on Trump's second term, with voters concerned about cost of living, inflation and the war in Iran.
Related markets
Latest news
- Shopify Stock Fell After Its Report. Here's the Price I'd Pay for It.
Shopify shares fell nearly 9% after its third-quarter report, even though revenue rose 32% to about $3.7 billion and free cash flow jumped 61% to $816 million. The author points to slowing gross profit growth, which eased to 28%, and higher marketing spending planned for the fourth quarter as signs that profit growth may ease, though the author does not think these alone explain the drop. Part of the cash flow gain is temporary, and at about 70 times trailing free cash flow the valuation remains high. The stock has moved closer to the price the author would accept, but not yet there; the author would start considering shares around $115, about 55 times trailing free cash flow. Shares recently traded near $144, about 20% below the October 12 record close of $179.22.
- Company Proposing World's Tallest Twin Towers Sees Q3 Profit Evaporate 80%
Thaiholdings reported Q3 2026 net revenue of nearly VND 319 billion, up 31%, but consolidated after-tax profit was only about VND 5 billion, down nearly 80% from the year-earlier period, weighed down by a loss of over VND 15.5 billion from associates and joint ventures. The company said 2026 is its first year of consolidated reporting, so the Q3 2025 comparison uses its standalone financial statements; on a parent-company basis, Q3 after-tax profit was over VND 20 billion, down 14%. For the first nine months, revenue reached nearly VND 891 billion, up about 16%, and after-tax profit was VND 106 billion, with the company having achieved about 92% of its 2026 revenue plan and exceeded its pre-tax profit plan by over 14%. Thaiholdings is also one of three companies that proposed the Hanoi Twin Towers 99 project, comprising two 568-metre towers with 99 above-ground floors and projected investment of USD 3–3.5 billion.
- The 'Best Country in the World': Record 174,000 Jobless, High Inflation, Ultra-Slow Wage Growth, and 75,000 People Leaving in One Year
New Zealand's unemployment rate rose to 5.7% in the third quarter of 2026, its highest since 2015, with 174,000 people unemployed, while employment fell by about 4,000 from the previous quarter. Wage growth slowed to 2% from 2.1%, while inflation was 3.7%, above the central bank's 1–3% target range. The central bank held its official cash rate at 2.75% after two earlier hikes, saying it needs time to assess their impact, though further hikes remain possible. Nearly 75,000 people left New Zealand last year, 58% of them for Australia, where GDP per capita is about USD 64,400 compared with about USD 48,000 in New Zealand.
- A decision effective from 1/1/2027 will help Dien May Xanh expand its market share
DMX expects Q4 2026 profit to be no lower than Q3, supported by the year-end shopping season, and targets 2026 profit after tax of VND 10,000 billion (+64% YoY), though it could exceed VND 10,500 billion, with 2027 revenue and profit after tax expected to rise 15% and 20%. Vietcap says the planned ban on imports of used electronic devices from 1/1/2027 is likely to benefit DMX, which mainly sells new, genuine products. Management expects ICT and electrical appliances to grow double digits in 2027 and later years, driven by AI-related upgrades, the end of Windows 10 support and replacement of devices bought in 2020–2022. With a market share of about 50% in each category, DMX sees room for further expansion. The House of Future model (AI, Robotics, Smart Home) is expected to launch in Q4 2026 or Q1 2027 at the latest, with no emphasis on revenue or profit targets in the initial phase.
- Deputy Governor Pham Thanh Ha: SBV Strongly Implementing Measures to Reduce Interest Rate Levels
Deputy Governor Pham Thanh Ha said the SBV will actively manage liquidity and supply capital to the market to support lower interest rates, amid high credit demand and global inflation pressure on rates. The SBV has asked credit institutions to cut deposit rates by 0.5-1% per year for new deposits with terms of 6 months or more and to reduce lending rates by 1.5-2% for production, business and priority sectors. Banks have uniformly cut listed rates by 0.5% per year, actual deposit rates fell about 0.4%, and new loan rates fell 0.2-0.5% compared with early October. More than 20 banks have announced preferential credit programs, and the SBV recently launched a 6-month FX-to-VND swap tool.
- FPT 'Reborn'
FPT shares rose to the daily limit of VND 53,900 per share in the 4/11 session, with over 12 million shares traded, lifting market capitalisation by about 6,400 billion VND and regaining the 100,000 billion VND level, after falling to 49,550 VND on 3/11, the lowest in nearly three years. Foreign investors sold a net of about 17,000 billion VND of FPT shares in the first 10 months of 2026 but bought a net of about 183 billion VND in the 4/11 session. On 3/11, FPT put its chip testing and packaging plant in Bac Ninh into trial operation, with a designed maximum capacity of 300 million chips per year, and signed a cooperation MoU with MobiFone on digital infrastructure and platforms. For the first nine months of 2026, revenue reached 40,023 billion VND (+12.4%), pre-tax profit reached 8,770 billion VND (+17%), and revenue from AI and data services rose 55%. VCBS expects FPT's domestic technology revenue to grow 35% in 2026 and 40% in 2027, while the article notes that a sustainable recovery will need more supportive cash flow, especially from foreign investors.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.