US debt ceiling crisis: A catalyst for crypto’s ultimate decoupling?

Many in and beyond the crypto industry believe that the political standoff around the debt ceiling increase makes digital assets more attractive in the long run.

The United States federal government’s default on its debt has been averted — at least for now. On Oct. 7, the Senate voted to increase the debt limit by $480 billion, a sum needed for the world’s biggest borrower to keep paying off its obligations until early December. The deal secured a temporary resolution for a weeks-long partisan standoff that had investors both within and far beyond the U.S. unsettled. The once unimaginable prospect of a U.S. default seemed more conceivable than ever before. As the system-wide uncertainty peaked ahead of the vote, the cryptocurrency market has been…

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