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The SEC’s nod to Bitcoin ETFs offers a new financial avenue against the backdrop of soaring U.S. national debt. The recent approval of Bitcoin ETFs by the Securities and Exchange Commission (SEC) marks a pivotal moment for cryptocurrencies in the United States. Avik, an analyst for Forbes, articulates that Americans can now purchase Bitcoin as a hedge against a potentially weakening U.S. dollar, which is under strain from the escalating federal debt. The SEC’s decision ensures the longevity of this alternative financial instrument. According to @truflation. US year on year inflation is now sub 2%. Sitting at 1.89%. While the US Govt is reporting 3.4%. Perfect timing for an election year, $8T of debt refinancing and the #Bitcoin halving. Expect to see “shocking” lower numbers into Q2 leading to a rapid… pic.twitter.com/laIIGL3RtE — British HODL ️‍️‍ (@BritishHodl) January 20, 2024 Forbes elaborates on this perspective, explaining that the SEC’s approval ma...

The losses on US Treasuries recently surpassed $1.5 trillion and the likely outcome is turbulent markets, but how will Bitcoin price fare? The U.S. economy has been facing turbulent times lately, with the U.S. personal consumption expenditure (PCE) inflation index rising by a significant 3.5% over the past 12 months. Even when excluding the volatile food and energy sectors, it's evident that the efforts made by the U.S. Federal Reserve to curb inflation have fallen short of their 2% target rate. U.S. Treasuries have lost a staggering $1.5 trillion in value, primarily due to these rate hikes. This has led investors to question whether Bitcoin (BTC) and risk-on assets, including the stock market , will succumb to heightened interest rates and a monetary policy aimed at cooling economic growth. Theoretical losses of U.S. Treasury holders, USD. Source: @JoeConsorti As the U.S. Treasury keeps flooding the market with debt, there's a real risk that rates could climb even highe...

A total of five crypto companies end their partnership with Silvergate bank on March 2 after a series of lawsuits and investigations against the fintech bank. The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms that were using Silvergate as their banking partner. However, the termination of service by Coinbase has also forced a crypto hedge fund to look for an alternate banking partner. Today Silvergate has lost Coinbase Circle Paxos Galaxy CBOE RIP https://t.co/XlexB5u2wD — db (@tier10k) March 2, 2023 On March 3, a crypto hedge fund called Digital Asset Capital Management (DACM) with assets worth over $400 million announced they are looking for a new banking partner in Switzerland post Silvergate chaos. DACM used Silvergate’s real-time network to move funds to and from Coinbase Global Inc.’s pl...