The ongoing tense negotiation has shown no ending sign as the US debt deadline looms. The world’s economic powerhouse could lose its capability to pay bills as early as June, and the fallout could impact global assets, including cryptos.
Unresolved Issues
June 1 emerges as a pivotal date, signaling potential financial turmoil as the United States grapples with the looming threat of running out of cash and more than $31.4 trillion in debt.
The US Treasury Secretary Janet Yellen previously warned that the US would likely run out of cash by early June. The common resolution is to lift the debt ceiling; otherwise, President Biden would go down in history as the first President to default on the US.
Amidst strained discussions, significant differences persist as parties strive to bridge the gap. The US House Speaker Kevin McCarthy acknowledges the lack of substantial progress yet maintains a glimmer of hope, emphasizing the remaining time…
