Debt ceiling concerns may impact cryptocurrency market as treasury balance plunges

quick take

• Concerns about the debt ceiling negotiations are still growing.
• President Biden has called for an unconditional increase in the debt ceiling.
• A meeting between President Biden and congressional leaders is set to take place this week over concerns about the continued depletion of Treasury stock.
• Macroscope said its revenue in April this year was down 26% compared to the same month in 2022.
• In addition, “Tax revenue until April this year will be
  $250 billion below expectations made just a few months ago. ”
• The Treasury General Account has reached $155 billion and is declining rapidly.
• As usual, the market is hoping for a last-minute deal.

Post-debt ceiling concerns could impact the cryptocurrency market as the plunge in government bond balances first appeared on CryptoSlate.