Crypto Crash News: Janet Yellen, US. Secretary of the Treasury on Monday flagged off a warning that the nation might run out of money by June 1. This warning comes in when the US. is facing a major banking crisis. However, with the major financial market, the Crypto market also registered a decline.
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US Running Out Of Cash?
As per reports, Janet Yellen in a letter warned the congressional leader about the growing concerns of a nearing debt ceiling crisis. She mentioned that after evaluating recent federal Tax receipts, calculated estimates suggest that the authority will be unable to continue the government’s obligations. The expected date is stated as June 1, 2023.
However, she asked the lawmakers to raise the debt limit before the expected deadline. The June 1 date is slightly earlier than what experts suggested. As per reports, Goldman Sachs’ recent estimate hinted the deadline is somewhere around late July.
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