Bitcoin Updates Today: Crypto News & Market Analysis
U.S. Treasury Secretary Janet Yellen has warned that the country could run out of cash by June 1 if Congress does not raise the debt ceiling. Yellen explained that the government has been using “extraordinary measures” to pay its bills since the debt limit was reinstated in August 2021, but those measures will soon be exhausted. The debt ceiling is the maximum amount of money that the government is allowed to borrow to finance its operations, and failure to raise it could lead to default on the country’s debt obligations. Yellen urged Congress to act quickly to avoid a potentially catastrophic economic outcome.
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