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Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as the U.S. economy
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Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he
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As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value. By delivering
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Twitter reportedly made another interest payment, only the second of an expectedly long schedule of debt repayments expected from the company. Twitter Inc has made its second interest payment as part of the $12.5 billion debt CEO Elon Musk used to buy the social media giant in 2022. Twitter paid a group
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Geoff Kendrick, the head of forex research at the banking institution Standard Chartered, recently said that the price of bitcoin is likely to jump by $20,000 in the event of the United States defaulting on its obligations. According to Kendrick, while bitcoin is likely to surge when the U.S. defaults,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The U.S. Treasury Secretary, Janet Yellen, has recently warned of the catastrophic consequences the U.S. could face if the country hits the debt ceiling without lifting it. In his recent video CryptosRUs explains that failure to do
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U.S. Treasury Secretary Janet Yellen has warned that the Treasury will not be able to pay all of the government’s debt “as early as June 1, if Congress does not raise or suspend the debt limit before that time.” Yellen also cautioned that the U.S. defaulting on its debt obligations
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Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.” Biden Expresses Confidence in
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Tech giant Meta, the parent company of Facebook, Instagram and WhatsApp, submitted a filing to the United States Securities and Exchange Commission (SEC) for new debt shelf offerings. The Big Tech company filed the prospectus on May 1, saying that it “may, from time to time, offer and sell debt securities
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Top Stories This Week Circle launches cross-chain USDC transfer protocol Circle launched a cross-chain protocol that enables USDC transfers between the Ethereum and Avalanche blockchains. The protocol works by burning the selected amount of native USDC on the source
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