Debt ceiling crisis and its impact on Bitcoin and the dollar.
TL;DR Summary
The U.S. has hit its $31.4 trillion debt ceiling and risks defaulting on its sovereign debt if the ceiling is not lifted before June 1. Bipartisan negotiations are underway, but no agreement has been reached yet. A U.S. government default would have catastrophic effects on the global financial system, causing stock markets to crash, millions of job losses, and a likely recession. The impact of the debt ceiling crisis on cryptocurrency and the broader market remains uncertain.
Topics:business#cryptocurrency#default-risk#finance#global-financial-system#government-spending#us-debt-ceiling
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- Fed Officials Face 'Loathsome' Playbook for Debt-Ceiling Standoff The Wall Street Journal
- US debt ceiling crisis is underpinned by dollar hegemony and reckless politics South China Morning Post
- Debt-Ceiling Standoffs Threaten an Already Wobbly Dollar Bloomberg
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