Bitcoin News and Finance: What You Need to Know

U.S. Treasury Secretary Janet Yellen has updated her projection regarding the date the U.S. government could default on its debt obligations. She warned that the Treasury “will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5.” Yellen Warns US Could Default on June 5 U.S. Treasury Secretary Janet Yellen has revised her estimate for the potential date of a U.S. default. In a letter she sent to all congressional leaders Friday regarding the debt limit, Yellen wrote: Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5. “We will make more than $130 billion of scheduled payments in the first two days of June, including payments to veterans and Social Security and Medicare recipients. These payments will leave Treasury with an extremely low level o...

Florida’s 46th Governor, Ron DeSantis, recently declared his candidacy for the U.S. presidency in 2024 and has since participated in several interviews. While conversing with Dana Loesch on The Dana Show, DeSantis criticized the U.S. Internal Revenue Service (IRS) as a “corrupt organization” and no ally to the typical American citizen. DeSantis Discusses Single-Rate Tax Proposals, Insists IRS Is No Friend of the Average American Following Joe Biden ‘s inauguration, he substantially expanded the IRS, and his 2024 budget plan aims to further enlarge the U.S. tax agency. Biden recently said he will reject Republican negotiations regarding the debt ceiling that would constrain his plans to bolster the nation’s tax revenue service. Subsequent to Ron DeSantis’s announcement last week, the Florida governor expressed his viewpoints in interviews with Ben Shapiro and Dana Loesch. During his dialogue with Loesch, DeSantis addressed the IRS when The Dana Show host inquired about his stan...

Economist and ardent gold advocate Peter Schiff caused a stir on Friday by announcing his participation in an upcoming art sale featuring non-fungible tokens (NFTs). These unique digital collectibles will be minted on the Bitcoin blockchain using Ordinal inscription technology. Schiff’s surprising entry into the NFT market through Bitcoin has piqued the curiosity of onlookers, prompting them to speculate whether the once vocal Bitcoin critic has experienced a change of perspective. Schiff: ‘I’m Still Not a Member of That Club’ For a very long time, Peter Schiff has been a vocal critic of bitcoin (BTC) , repeatedly asserting that the cryptocurrency’s value would eventually plummet to zero. He has engaged in numerous debates where he consistently highlighted BTC ’s perceived lack of intrinsic value as one of its fundamental vulnerabilities. However, despite his longstanding stance, Schiff is now venturing into the realm of non-fungible tokens (NFTs), conducting a sale that will utiliz...

One of Saturday’s biggest movers is XRP , which rose to a 30-day high earlier in today’s session. The token rose for a third consecutive day, as bulls returned to the market to start the weekend. Cardano was another notable gainer today. XRP XRP (formerly ripple), moved to a one-month high on Saturday, as bulls began to gradually renter the market. Following a low of $0.4614 on Friday, XRP /USD raced to a peak of $0.4777 earlier in the day. As a result of the surge, the token climbed to its highest level since April 30, when it was last above $0.4800. Looking at the chart, the move came as XRP bulls broke out of a key resistance level at the $0.4750 This occurred as the relative strength index (RSI) also moved beyond a ceiling at the 57.00 mark. At the time of writing this, the index is now at a reading of 58.18, with the next target for bulls potentially at 62.00. Cardano ( ADA ) Cardano ( ADA ), was also in the green to start the weekend, with prices moving further away f...

Bitcoin moved closer to the $27,000 level on Saturday, as markets continued to react to the latest Personal Consumption data from the United States. The key inflation index rose to 4.4% in April, higher than expectations of a drop to 3.9%. Ethereum also edged higher. Bitcoin Bitcoin (BTC) rallied towards $27,000 to start the weekend, as prices reacted to the latest Personal Consumption data in the United States. BTC /USD climbed to a peak of $26,916.67 earlier in today’s session, which came a day after trading at a low of $26,370.55. The move sees bitcoin climb for a third straight session, moving past a floor at $26,3000 in the process. From the chart, the latest surge in price came as the 14-day relative strength index (RSI) bounced from a support point at 39.00. At the time of writing this, the index is now tracking at 43.02, with the next visible point of resistance at 45.00. Should this point be broken, then there is a strong possibility that BTC will move back over the ...

The government of Argentina is reportedly seeking to expand its de-dollarization agreement with China due to the lack of dollars that the country is facing. According to reports, Economy Minister Sergio Massa would be in talks to expand the current swap line to double the available amount from $5 to $10 billion, lent in Chinese yuan. Argentina Seeks to Expand Swap Line Agreement With China On De-Dollarization Push The government of Argentina would be seeking to expand the access it has to a Chinese yuan swap line in order to reduce the use of its scarce dollar reserves. According to local reports , Economy Minister Sergio Massa and Central Bank of Argentina President Miguel Pesce will be traveling to China on May 29 with the objective of doubling the free amount of money available in the swap line, taking it to $10 billion in Chinese yuan. China had allowed the Argentine government to freely access $5 billion of the swap line, of which almost $2 billion were used during April and ...