Crypto Crash Imminent? US Risks Running Out Of Cash

Also Read: FOMC, ECB: Bitcoin To Face Tough Week Ahead; Here’s Why

advertisement

US Running Out Of Cash?

As per reports, Janet Yellen in a letter warned the congressional leader about the growing concerns of a nearing debt ceiling crisis. She mentioned that after evaluating recent federal Tax receipts, calculated estimates suggest that the authority will be unable to continue the government’s obligations. The expected date is stated as June 1, 2023.

However, she asked the lawmakers to raise the debt limit before the expected deadline. The June 1 date is slightly earlier than what experts suggested. As per reports, Goldman Sachs’ recent estimate hinted the deadline is somewhere around late July.

The legal limit on federal borrowing has become an unending issue in the DC. Reports suggest that a clash between Republicans and the Biden administration has signaled that the government is heading toward default. Read More Crypto Crash News Here…

Trending Stories
Dogecoin
Dogecoin Price Prediction: Bullish Setup Prepares DOGE Price for 32% Rally; Buy Today?
24/7 Cryptocurrency News
Cryptocurrencies
Top 3 Cryptocurrencies Set to Kickstart Bullish Recovery in May 2023; Entry Today?
24/7 Cryptocurrency News
Ethereum Price Prediction
Ethereum Price Prediction: Bearish Pattern Signals ETH Price Crash To $1500; Sell Or Hold?
24/7 Cryptocurrency News
Shiba Inu Shibarium
SHIB Price Prediction: Shiba Inu Price Back at Multi-Month Support Plots 20% Rise
24/7 Cryptocurrency News
BTC Price Prediction bitcoin news
Rising Supply Pressure Threatens Bitcoin Price for 6% Drop this Week; Time to Reaccumulate?
24/7 Cryptocurrency News

Also Read: Bitcoin Price Breaks Key Level, Risks Falling To $26K Ahead US Fed Rate Hike?

It should be noted that this development emerges at a time when the U.S. is witnessing the worst Banking Crisis. However, the market is also looking forward to the crucial FOMC meeting.

The global digital asset market registered a decline for the straight 3rd day due to increased selling pressure. This also directs the mood of investors toward the market with unclear regulations and missed expectations.

The cumulative crypto market cap is down by more than 1.21% over the last day to stand at $1.17 trillion.

Comments

Post a Comment

Popular posts from this blog

Tokinvest and Singularry SuperApp Partner to Make Regulated Real-World Asset Investing Accessible to Everyone

Image
Dubai, UAE, October 29th, 2025, Chainwire Tokinvest , a VARA-licensed platform for tokenised real-world assets (RWAs), has announced a partnership with Singularry SuperApp , a UAE-based fintech that blends artificial intelligence (AI) with decentralised finance (DeFi) to make digital investing more human-centric and straightforward. Through the partnership, Tokinvest’s regulated investment infrastructure will be integrated directly into the Singularry SuperApp . This will give users secure access to suitable tokenised real-world assets from the app’s all-in-one financial interface. Tokinvest is progressing regulatory approval for a range of tokenised products, including real estate, commodities and private credit products.  The collaboration combines Tokinvest’s strength in regulation and compliance with Singularry’s vision to create the “iPhone moment for Web3.” The result is a new way for users to explore digital assets and real-world invest...
Read more

Trezor Launches Trezor Safe 7: First Hardware Wallet With Transparent Secure Element

Image
Prague, Czech Republic, October 23rd, 2025, Chainwire Fully wireless hardware wallet introduces the world’s first auditable secure element and quantum-ready architecture for next-generation protection Trezor , the original hardware wallet company, has launched Trezor Safe 7, a new-generation hardware wallet that introduces several industry firsts: a fully auditable secure element (TROPIC01), and a quantum-ready architecture. It also features seamless mobile connectivity, making it easier than ever to manage crypto securely from anywhere. With a vibrant color touchscreen, anodized aluminum unibody, and open-source firmware, Trezor Safe 7 is built to offer transparent, long-term self-custody without compromising on usability or design. First Transparent Secure Element At the core of the device is TROPIC01, the world's first transparent and auditable secure element. Unlike conventional secure elements that rely on undisclosed architecture, TROPIC01 allows the community to inspect, ...
Read more

XYO, the DePIN Project with 10M+ Nodes, Launches Blockchain’s First Data-Focused L1

Image
London, United Kingdom, September 16th, 2025, Chainwire Today, XYO , the first DePIN and blockchain project with 10M+ nodes, launches XYO Layer One , a blockchain network designed specifically for data-heavy industries, such as those in artificial intelligence (AI), logistics, and cloud services. With this launch, XYO introduces the first blockchain built to handle large volumes of data without slowing performance, making it the first scalable network designed for data. XYO is the industry’s first Decentralized Physical Infrastructure Network (DePIN) project, earning $8.8M in revenue in 2024 and attracting 80% of its users from outside the crypto space. Since 2018, XYO has been working on a variety of data-heavy blockchain products, such as the mobile app COIN, where users can turn their everyday data into real-world rewards. Initially focusing on location data, XYO has expanded today to house an ecosystem of over 10 million nodes, or data-producing devices and individuals, aroun...
Read more