• Charles Schwab’s Adam Lynch said crypto’s progress in Washington could “grind to a halt” if the midterm elections change who holds power.

• However, he remained “somewhat optimistic” about a bipartisan deal.

• Bitcoin rebounded after dipping to around $80,000, its lowest level since Sept. 18. Lynch said leverage has made the recent swings sharper.

Bitcoin (BTC) rebounded from its lowest point in nearly a month on Saturday, but Charles Schwab’s (SCHW) Adam Lynch warned that midterms could “grind [crypto industry] to a halt”.

Lynch, Director of Equity Research at the Schwab Center for Financial Research, made the comments in an interview with Schwab Network. He called the current…