US Midterm Elections and FTX Collapse: Here’s How Crypto Twitter is Reacting

Today, there are two major events playing out that will set the course of the crypto market in the future: the US midterm elections and the near-collapse of FTX. And Twitter is blowing up with opinions, satire, memes, and whatnot.

In a press release shared on Twitter, the FTX announced that it had filed for Chapter 11 bankruptcy. FTX’s founder, Sam Bankman-Fried has stepped down as CEO with immediate effect.

US Midterm Election Results

Midterm elections are also under way in the US and the results are coming in. Republicans are getting closer to a 218-seat House majority, but the expected number of seats is shrinking

Republicans have so far gained 213 seats, while Democrats have 206. A total of 218 seats are required to establish a majority in the 435-member House of Representatives

When it comes to Senate, Democrats have secured 48 seats while Republicans’ have managed to win 49 seats. Control of the Senate now hinges on the result of three states: Arizona, Nevada – and Georgia. There is a delay in results as counting takes more time in close contests.

Keeping calm is not what Twitter is known for. So let’s dive right into how people are reacting to these events.

Also Read: Bored Ape Yacht Club NFT Prices Plummet After FTX Crashes The Crypto Market