The US government’s massive pile of debt is reaching fresh heights as a new fiscal year begins. The Treasury Department’s Debt to the Penny database shows the national debt rose from $35.464673929171 trillion on September 30th to $35.668947367182 trillion on October 1st – the first day of fiscal year 2025. That’s a jump of $204.273438011 […]
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The US Treasury Department says it expects to pay a whopping $1.157762 trillion in interest on the national debt for the fiscal year 2024. The interest represents the cost of borrowing money, which the government does by issuing Treasury bonds, bills and other securities. Interest payments have already totaled $1.05 trillion as of August, and […]
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The US is spending a huge amount of cash per day just to cover interest on the national debt, according to the chief economist at the multinational investment giant Apollo Global Management. Citing data from the Treasury Department, Apollo’s Torsten Sløk says the US government is now spending an average of $3 billion in interest […]
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A groundbreaking new report shows the US government is losing a staggering amount of money to fraud every year. The Government Accountability Office’s (GAO) first “Fraud Risk Management” report estimates the federal government’s annual losses to fraud fall somewhere between $233 billion and $521 billion. The GAO uses fiscal data from 2018 through 2022 for […]
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Investors are pouring capital into US and global bond funds in anticipation of rate cuts from the Federal Reserve. In the week ending August 28th, a total of $17.69 billion in global bond funds was purchased, with $9.58 billion allocated to US bond funds, reports Reuters, citing LSEG data. The numbers represent a six week […]
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Increased crypto adoption and high treasury yields could push tokenized US Treasurys toward a $3 billion market cap by the end of 2024.
The rapid growth in global crypto adoption (up 34% based on the number of holders since 2023) has increased the demand for stable, low-risk digital assets. Tokenized United States Treasurys give users access to government bonds within the crypto ecosystem. The figure below illustrates the rapid growth of tokenized products since January 2023, with their total market capitalization increasing by over 150% year-to-date.
To investigate the sector’s potential market capitalization by the end of 2024, Cointelegraph’s analysis employed three statistical models: Autoregressive integrated moving average (ARIMA), generalized autoregressive conditional heteroskedasticity (GARCH) and linear regression. The figure below displays the projected capitalization of the 12 tokenized US Treasury products aggregated.
The ARIMA model predicts $2.12 billion, GARCH forecasts $3.93 billion, and the linear regression model estimates $2.47 billion. These can be interpreted as bear, bull and base-case scenarios, respectively. A weighted combination of these three models suggests a market capitalization of $2.66 billion by the end of 2024.
The Treasury Department is beginning to buy tens of billions of dollars in US bonds in a push to bolster the market. In a series of announcements, the department details its $50 billion buyback operation, which started on August 7th and will last until October 31st. The agency is looking to buy both short and […]
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While a strategic Bitcoin reserve may be good for price action, the US Treasury controlling 19% of the BTC supply raises unprecedented centralization concerns.
The idea of Bitcoin becoming the reserve asset of the United States poses significant centralization risks for the world’s first cryptocurrency despite being an optimistic price catalyst, according to Charles Hoskinson.
Making Bitcoin a reserve asset for the US was recently floated by presidential candidate Robert F. Kennedy Junior, who said that he would sign an executive order for the US Treasury to purchase a total of 4 million Bitcoin (BTC) worth over $242 billion at today’s valuation.
Notably, that would represent 19% of the Bitcoin supply, said Charles Hoskinson, co-founder of Input Output Global and Cardano.
US Treasury Secretary Janet Yellen says America’s foreign policy is pushing countries to find alternatives to the US dollar. In new testimony before the House Financial Services Committee, Yellen says America’s increasing use of sanctions to freeze assets of sovereign nations drives countries away from the world’s reserve currency. “In the realm of sanctions, we […]
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The U.S. Treasury Department announced Wednesday that over 300 new sanctions have been issued to intensify pressure on Russia for its ongoing war against Ukraine. These measures, in alignment with G7 commitments, target entities and individuals globally to cripple Russia’s military-industrial base by restricting access to U.S. software, IT services, and foreign financial support. The […]