Morning Scan

Amazon is rewiring its delivery bets, Canva is finding out what AI does to a design-software moat, and crypto woke up to a different Washington. A $6.3B exchange hack barely dented the bitcoin tape.

Washington Flips, Crypto Flinches

Democratic sweep of Congress forces crypto industry to rethink Washington strategy (paywall)

Two years of a friendly Capitol just ended, and the lobbying playbook needs a rewrite. (The Block)

The Digital Chamber calls Sherrod Brown's win 'most consequential unfavorable result' for crypto (paywall)

The industry's own trade group went with "unfavorable." (The Block)

Bitcoin rebounds past $80,000 as markets shrug off midterms and Binance hack (paywall)

Bitcoin rose 3.5% and ether 6% on a day billed as a turning point for crypto policy. (The Block)

Pro-AI PAC Leading the Future ended the midterms with $20M+ in its bank

It started near $100M, backed bipartisan candidates, and its riskier bets still fell flat. (Wired)

Arkansas Sues Kalshi to Stop Alleged Illegal Gambling

Another state wants restitution and back taxes while Kalshi keeps fighting enforcement in federal appeals. (The Defiant)

Platforms Shuffle the Deck

Amazon ditches Grubhub, taps Uber Eats for Prime

Uber Eats is now the official restaurant delivery partner for US Prime members, and Grubhub is out. (TechCrunch)

Canva lays off over 1,200 people amid slowing growth

"Our hardest year yet," says the CEO, as AI image tools take share in the category and AI costs eat the margins. (TechCrunch)

Snapchat surpasses 30M paid subscribers

Capping free Memories storage drew criticism a year ago and has since worked as an effective paywall. (TechCrunch)

Reddit Begins Testing Ads In Its Own Search Results

Reddit is testing ads in its own search results, possibly matched to what people are searching for. (Search Engine Journal)

Cars, Clouds, and Cartridges

BMW's Car Business Could Break Even In 2026 As Neue Klasse Demand Pushes Gen5 EVs Out Early

Automotive EBIT margin guidance drops to -0.5% to +0.5% from 1-3%, a profit warning tied to the EV transition. (BMWBLOG)

When datacenters lose power, generators should kick in. That didn't happen for Google in London

Google blames a "misconfiguration" for the October 20 outage. (The Register)

Nintendo's biggest ROM chip supplier is bowing out of the business

The AI memory crunch has now reached Switch cartridges. (Ars Technica)

The Lighter Side

'GTA VI' Has Reportedly Pulled In $751 Million USD From Pre-Orders Alone

Weeks before launch, and not a single player has yet stolen a single car. (Hypebeast)