The U.S. government faces a “significant risk” of not meeting its financial obligations by June due to a $31.4 trillion debt limit, potentially impacting the crypto market as investors seek alternative assets like Bitcoin. However, concerns about market volatility and regulation may deter some investors.
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Impending US Debt Default: Impact, Uncertainty, and Urgent Bipartisan Efforts
U.S. Treasury Secretary Janet Yellen warns of a potential debt default by June 1, urging Congress to address the issue. A default could lead to severe economic hardships, damage global leadership, and impact national security. The May 9 bipartisan talks hold the key to understanding the urgency and potential repercussions, emphasizing the need for Congress to find a solution.