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The 2026 U.S. midterm elections are being held today, with early voting results showing the Democratic Party in the lead

The 2026 U.S. midterm elections are being held today, with voters deciding the allocation of all 435 seats in the House of Representatives and 35 seats in the Senate, which will shape the power dynamics of President Trump's remaining term.As of around 8 PM Eastern Time on November 3, early results have begun to emerge: approximately 10 Senate races have been called, with the Democrats holding 43 seats, the Republicans 32 seats, and the Democrats achieving a net gain of 1 seat; about 64 House races have been called, with the Democrats at 45 seats and the Republicans at 19 seats.Early voting and partial counts in Eastern states show strong Democratic performance, with the Democrats temporarily leading in some Republican-held seats in Ohio, South Carolina, and Texas, but polling places in the West are still open or counting, and results in many key swing states are not yet in, leaving overall control undetermined. The fierce election battle may take several days or even longer to reveal the final outcome.If the Republicans suffer losses in the 2026 midterm elections (especially if swept by the Democrats in both chambers), it would mean a significant limitation on Trump's legislative dominance for the remainder of his term, pushing him into a "lame duck" status sooner: the Democrats would gain committee investigative powers, initiating oversight and even impeachment attempts regarding the Iran conflict, government spending, and family business interests (including crypto-related projects), while a Senate flip would also hinder his personnel and judicial nominations.For the crypto market, this outcome is overall negative but not catastrophic. The Trump administration had previously pushed for frameworks like the GENIUS Act for stablecoins and appointed friendly regulators, but the key CLARITY Act (market structure bill) has failed in the Senate procedural vote. If the Democrats control Congress, it is likely that committees will be led by skeptical figures like Elizabeth Warren, leading to further delays or shelving of regulatory legislation, and increasing scrutiny of the industry and Trump-related crypto projects, which could exacerbate policy uncertainty and create price pressure in the short term.

first_img NEAR has initiated voting to reduce the issuance rate to 1.6% over 24 months

The NEAR ecosystem governance proposal HSP-029 has entered the voting stage, proposing to gradually reduce the maximum annual issuance rate of NEAR tokens from 2.5% to 1.6%. This proposal was put forward by SVRN CEO Sal Ternullo, planning to linearly decrease by approximately 3.75 basis points per epoch over 24 months, while maintaining a 90/10 allocation ratio between stakers and the treasury. After the vote passes, there will be a 90-day grace period before the reduction officially begins.The proposal's calculations indicate that this plan is expected to reduce the issuance of approximately 11.8 million NEAR tokens over two years, with a cumulative reduction of about 66.1 million tokens over six years, equivalent to a 4.36% decrease in supply compared to the current situation. The annualized staking yield will gradually decrease from the current 5.268% to 3.372%. The author points out that this move aims to reduce the degree of dilution for non-staking holders and responds to discussions regarding the protocol's discretion risk following the withdrawal of the previous Sovereign Fund proposal.This proposal must go through a dual process to take effect: after passing the House of Stake vote, validators must also independently adopt it through the standard protocol upgrade process. The proposal cites Solana's SGP-0002, which was passed in August 2026 with a staking weight approval of 67.001% for a similar issuance reduction, as a precedent. Currently, the NEAR network has a total of 406 active validators, with a staking rate of 42.71%.
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