Trump-linked crypto and AI data centre stocks slide after Democrats' midterm win
Trump-linked cryptocurrencies fell up to 16% and AI data centre stocks slid after Democrats' strong US midterm performance rattled investor sentiment, raising concerns over tighter regulations and project delays. The WLFI token dropped 3%, while Trump's memecoin fell 16.1%, and Trump Media shares lost 24.54%. Bitcoin miners converting to AI centres face worries about Texas construction restrictions and rising financing costs, with Galaxy Digital down 17% and Hut 8 down 23%. Texas accounts for nearly 30% of US data centre capacity expected by 2028. New Governor Gina Hinojosa advocated halting unrestricted development, though some argue existing operators could benefit from stricter entry barriers for competitors.