Biden

April

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Concerns continue to build around the debt ceiling negotiations.</li>
<li>President Biden is insisting on an unconditional debt-ceiling increase.</li>
<li>This week, a meeting will occur between President Biden and congressional leaders around the concerns of the Treasury balance remaining depleted.</li>
<li>MacroScope states, &#8220;Revenues in April this year were 26% below the same month in 2022.&#8221;</li>
<li>Furthermore, &#8220;Tax revenues in the current fiscal year to April were more than<br />
$250bn below estimates made just a few months earlier.&#8221;</li>
<li>The Treasury General Account sits at $155 billion and is plunging fast.</li>
<li>Markets are still expecting a last-minute deal, as per usual.</li>
</ul>
<figure id="attachment_325453" aria-describedby="caption-attachment-325453" style="width: 602px" class="wp-caption aligncenter"><img class="wp-image-325453 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/TT.png" alt="Treasury Balance: (Source: MacroScope)" width="602" height="178" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/TT.png 602w, https://cryptoslate.com/wp-content/uploads/2023/05/TT-300x89.png 300w" sizes="(max-width: 602px) 100vw, 602px" /><figcaption id="caption-attachment-325453" class="wp-caption-text">Treasury Balance: (Source: MacroScope)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/debt-ceiling-concerns-may-impact-cryptocurrency-market-as-treasury-balance-plunges/">Debt ceiling concerns may impact cryptocurrency market as treasury balance plunges</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Debt ceiling concerns may impact cryptocurrency market as treasury balance plunges

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