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US national debt costs the government $3 billion per day

Report claims Roblox is ‘pedophile hellscape’ and Geoffrey Hinton, AI godfather

CRYPTO
Trump win could bring Bitcoin to $90,000

Bitcoin, the world’s top cryptocurrency, could surge to $90,000 if former President Donald Trump is re-elected in November, according to a research note from Bernstein market analysts.

“We foresee bitcoin reaching $80,000 to $90,000 if Trump wins the presidency,” said Bernstein analysts, led by Gautam Chhugani, the firm’s Global Head of Digital Assets. “Conversely, if Kamala Harris wins, bitcoin could test the lower end of the $40,000 range, due to concerns over regulatory tightening.”

At the time of writing, bitcoin is trading at approximately $63,000.

The analysts highlighted that a Harris victory might pressure bitcoin markets downward, potentially driving prices close to $40,000. "Harris’s more conservative stance on digital assets could lead to reduced regulatory support in the short term,” they noted.

While Harris has not provided a detailed plan for the crypto industry, she has recently emphasized her focus on fostering innovation in artificial intelligence (AI) and cryptocurrency.

Prediction market Polymarket currently shows Trump holding a 7% lead over Harris, though U.S. crypto bettors are barred from the platform.

Bernstein analysts emphasized the significant influence of the 2024 election on Bitcoin’s price trajectory. “We expect bitcoin to react to election odds, with more positivity as Trump’s chances improve, but to remain range-bound if the race stays tight,” they said.

“Although not certain, the odds have shifted toward Trump, suggesting traders are positioning for a potential Trump victory and its impact on crypto markets.”
Source

Nobel Prize
Geoffrey Hinton, AI godfather

Only a handful of scientists on earth ever earn the distinction of winning a Nobel Prize, a once-in-a-lifetime achievement forever etched into the annals of history.

This made it that much more extraordinary that Geoffrey Hinton spoke for barely more than a minute before trashing the CEO of OpenAI during an ad hoc press briefing convened in honor of his award.
Source

US DEBT
US national debt costs the government $3 billion per day

The U.S. national debt has become an increasingly severe issue, with significant implications for both the economy and the government’s ability to operate efficiently. Currently standing at over $35 trillion, the debt has ballooned to levels that were once considered unimaginable. Here’s how the situation has grown so dire and the potential consequences it could lead to:

Escalating Interest Costs

One of the most concerning aspects of the U.S. national debt is the rising cost of interest payments. The government now spends an estimated $3 billion per day just to cover the interest on its debt. These payments don’t reduce the debt itself; they only cover the cost of borrowing. As interest rates rise or the debt grows, these payments will continue to escalate, putting even more strain on federal resources. Interest payments have already outpaced some critical government spending areas, meaning less funding is available for things like infrastructure, education, or healthcare.

Risk of Rising Interest Rates

As the debt increases, investors may begin to see U.S. Treasuries as a riskier investment. Historically, Treasuries have been viewed as one of the safest assets in the world, but with growing debt and potential political gridlock over fiscal responsibility, that perception could change. If investors demand higher interest rates to compensate for the perceived risk, it will make borrowing even more expensive for the government. This would create a vicious cycle: more debt leads to higher interest costs, which leads to more borrowing, further increasing the debt burden.

Crowding Out Private Investment

When the government borrows heavily, it can also lead to what economists call “crowding out.” This occurs when the government absorbs a large portion of available capital in the economy, leaving less for private businesses and consumers to borrow. When interest rates rise due to excessive government borrowing, it makes loans more expensive for businesses, which can stifle investment and slow economic growth. Over time, this can lead to fewer jobs, lower wages, and reduced innovation, all of which harm the broader economy.

TECH
Report claims Roblox is ‘pedophile hellscape’

A report from the renowned activist short-selling firm Hindenburg Research sent Roblox’s stock tumbling by as much as 9% during intraday trading, following allegations that the company inflated its user metrics and created an unsafe environment for underage users.

“We completely reject the claims made in the report. The financial assertions by Hindenburg Research are simply misleading. The authors are known short sellers with an agenda, regardless of the reality of Roblox’s business model and results,” a Roblox spokesperson stated in a response to Fortune.

Hindenburg also alleged that the platform has become "a pedophile hellscape for kids," claiming that its social media features enable predators to easily target hundreds of underage users, with no proper screening to prevent them from accessing the platform.
Source

POLITICS
Trump Media stock soars nearly 19%

  • Shares of Trump Media surged, putting the Truth Social operator on track for its fourth straight day of gains.

  • The rally accelerated after Trump Media majority owner Donald Trump held a presidential campaign event with Tesla CEO Elon Musk in Pennsylvania.

  • Trump Media, which trades under the DJT ticket, recently revealed Chief Operating Officer Andrew Northwall had resigned.

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Aurora

The dawn in the early morning

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