US Economic Events and Debt Deal Deadline Loom as Biden Warns Against Protecting Wealthy Tax Cheats and Crypto Traders

The stock market is facing potential economic events that could affect market sentiment, including the ongoing debate surrounding the US debt ceiling before the June 1 deadline. The US Treasury Department has warned of a possible default on the $31.4 trillion debt if a deal is not reached. Additionally, the US Federal Reserve officials are considering a potential pause in Fed rate hikes, and several macroeconomic events are scheduled for the remainder of May 2023, including the release of the PCE Index.

Debt

Original Link

Comments

All Comments

Recommended for you

U.S. consumer confidence improves again in November, reaching a two-year high

Dana M. Peterson, Chief Economist of the World Large Enterprises Federation, said, "US consumer confidence continued to improve in November, reaching the highest level in the past two years. The growth in November was mainly due to consumers' more positive assessment of the current situation, especially in the labor market. Compared with October, consumers' optimism about future employment opportunities has also greatly increased, reaching the highest level in nearly three years. At the same time, consumers' expectations for future business conditions have not changed, while their optimism about future income has slightly declined." Earlier, the US Conference Board Consumer Confidence Index for November recorded 111.7, a new high since July 2023.
CointimeSG ·

GCEX Expands Crypto Custody Solutions With New Hex Trust Service

The prime broker launched the Secured Accounts service to enhance institutional digital asset protection in the EU and UK. Both companies have been working closely together for 3 years, recently presenting staking services.
CointimeSG ·

FD Technologies Posts Wider Loss, Debt Surges 84% Before First Derivatives Sale

The company reports a challenging 6 months, with revenue down 7% to £118.2m and adjusted EBITDA falling 26% to £10.5m. FD Technologies recently announced its plan to sell its First Derivative business to EPAM Systems for £230 million.
CointimeSG ·

How Q Protocol is changing the future of blockchain governance: Report

Cointelegraph Research delves into Q Protocol’s unique governance framework, which combines onchain mechanism with legal agreements.
CointimeSG ·

Movement developers plan token generation event on Ethereum ahead of mainnet launch

The Movement blockchain project has introduced its native MOVE token with a supply of 10 billion tokens. MOVE will initially be launched as an ERC-20 token during a token generation event on Ethereum.
Starknet: Phase 1 of STRK staking is now live on the mainnet

Starknet announced that the first stage of STRK staking has officially launched on the mainnet.
CZ: Not trying to end the meme craze, just encouraging more builders

CZ posted on X platform today, saying: "I am not against Meme coins, but Meme coins have become 'a little' strange now. Let's use blockchain technology to build practical applications." Some community users said that even Musk is a supporter of Meme coins, and it is very difficult to end this frenzy. CZ responded that "there is no attempt to end anything, everyone has the right to choose to invest or hold what they want. Just encourage more builders."
AXIOS: Trump is considering appointing a secretary of state for artificial intelligence

according to AXIOS, Trump is considering appointing an AI minister to coordinate federal policies and government use of emerging technologies.
CointimeSG ·

Crypto Banking in the UAE: The Path to Licensing and Compliance

Companies must meet several financial and operational criteria, such as minimum capital requirements and maintaining liquid assets. The licensing process can take between 4 to 12 months and involves significant costs.
CointimeSG ·

Canadian wellness firm approves plan to add $1M of Bitcoin to treasury

Jiva Technologies CEO Lorne Rapkin said the move to add Bitcoin to the treasury is “a unique opportunity to strengthen our treasury with a resilient and innovative investment.”