Trump-linked crypto and AI data centre stocks slide after Democrats' midterm win

economictimes.indiatimes.com —

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.


With a significance score of 2.8, this news ranks in the top 13% of today's 32476 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: