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US Treasury Set for Debt Issuance Worth $1T Following President Biden’s Signing of Debt Ceiling Bill

Economists predict the US Treasury’s forthcoming debt issuance will hit $1 trillion and may eventually cause economic stiffness. US President Joe Biden’s assent and signing of the bill suspending the federal debt ceiling will trigger new debt issuance. Already, observers expect the Treasury Department to sell $1 trillion worth of debt. On Saturday, President Biden officially signed the bill, which removed the US debt ceiling until Jan 1, 2025. Biden’s signature followed a relatively...

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Europe Stocks Climb Higher after US Congress Approve Bill to Increase Debt Ceiling

Stocks in Europe and Asia have risen in response to the debt ceiling increase approved by lawmakers in the US. Stocks in Europe opened higher today after the US Senate approved a bill to suspend the government’s debt ceiling. Following a 63-36 vote, US lawmakers agreed to raise the debt ceiling to prevent the country’s first-ever debt default. Congress has now sent the approval to President Joe Biden for assent. As of 9:30 am London time this morning, the STOXX Europe 600 climbed 0.7%...

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What Would Happen to Bitcoin If The US Debt Ceiling Cracks (Opinion)

Watch that little blue line on Google Trends for “bitcoin” hit the ceiling if the U.S. defaults on its debt. BTC might suffer at first as markets go risk-off, but could easily shine in another global financial crisis. House Republicans reached a tentative deal with President Joe Biden’s White House over the Memorial Day Weekend. The deal would help raise the debt limit imposed by Congress on federal borrowing. But it isn’t yet assured. House Democrats are unhappy with some of...

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US Treasury Yields Slide amid Anticipation for Congress Debt Ceiling Vote

The 2-year and 10-year Treasury yields dropped Tuesday as investors await the legislative voting outcome on the debt ceiling bill.   US Treasury yields slumped today ahead of a Congress on the federal government’s proposed debt ceiling bill. Treasury yields tumbled Tuesday as markets reopened, with investors bracing themselves for a lawmaker vote on the Biden administration’s 11th-hour debt ceiling proposal. Late Sunday, US President Joe Biden and House Speaker Kevin McCarthy struck a...

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Latest US Debt Ceiling Proposal Strikes Out Unpopular Crypto Tax Bill

The recent US debt ceiling deal has struck out the previous crypto tax bill proposed by the Biden administration.  Congressman Warren Davidson has confirmed that the recent US debt ceiling deal blocks a potentially pivotal crypto tax bill proposed by the Biden administration. Davidson’s confirmation came as a response to a tweet by Bitcoin advocate and Riot Platforms research executive Pierre Rochard asking for clarity. Following Sunday’s debt ceiling agreement between US President Joe...

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European Markets Open Higher Following US Debt Ceiling Deal

European stock markets were higher in pre-trade amid impending Congress vote on the proposed US debt ceiling bill. European markets opened higher on Monday following the US debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy. Over the weekend, the two high-ranking politicians finally agreed to raise the US debt ceiling, thereby preventing a default. In light of the deal, Biden and McCarthy now seek to convince Congress to approve implementation in the coming...

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Bitcoin, Gold Still The Best Insurance Against Corruption and Incompetence, Says Kiyosaki

With the US debt ceiling talks leading to no results, economists are wondering whether this situation could turn out to be a massive global financial crash, despite politicians still claiming that there will be a soft landing. Robert Kiyosaki, however, doesn’t believe this assertion and urged investors to turn to gold, silver, and bitcoin to protect themselves. Republicans and Democrats are still unable to decide whether the US should raise the debt ceiling, and questions...

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Cynthia Lummis Says Biden’s 30% Miner Tax “Isn’t Going to Happen”

Bitcoin-friendly Republican Senator Cynthia Lummis doesn’t think the Biden Administration’s proposed 30% excise tax on Bitcoin miners isn’t likely to make it through the House.  On stage at Bitcoin Miami 2023, the politician remained supportive of miners, and believes the industry’s proliferation throughout the United States is a matter of national security.  Mining: Dirty or Clean? During the interview, Lummis spoke about the excise tax with Perianne Boring, a member of the...

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President Biden Digs at Wealthy Crypto Investors 

Biden’s latest action against crypto has garnered several opposing reactions from the crypto community. The 46th elected president of the United States Joe Biden has announced his intention to close tax loopholes for “wealthy crypto investors”. He tweeted requesting Congress to cut loopholes that help the crypto tycoons. Biden also accused MAGA House Republicans of supporting wealthy crypto investors and failing to support the food safety inspections budget. The president made this...

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Biden Administration Seeks to Impose 30% Tax on Crypto Mining

The White House Council of Economic Activities (CEA) is looking to penalize the crypto mining sector stating that the high energy consumption by crypto miners have spillover effects on the environment and quality of life. In a major move, the Biden administration is looking to impose a major tax on the crypto mining activities taking place in the United States. On Tuesday, May 2nd, the White House Council of Economic Activities (CEA) argued over the harms that crypto mining operations...

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