Treasury Secretary Scott Bessent Warns US Government On ‘Scary’and Unsustainable Debt Trajectory

By: bitcoin ethereum news|2025/05/07 02:30:02

US Treasury Secretary Scott Bessent says the US needs to reverse the “scary” fiscal path that it’s on before it’s too late. In an appearance before a House committee Tuesday morning focused on the White House’s 2026 budget requests, Bessent was asked by Congressman Chuck Edwards what it would look like if the US government’s debt levels became “unsustainable.” Says Bessent, “It would look like a sudden stop in the economy as the credit would disappear as markets would lose confidence. I’m committed to that not happening, and again, a tipping point in sustainability is very difficult to pinpoint, but what is not difficult to pinpoint is a trajectory, and the trajectory is unsustainable. When and if the markets were to rebel against is very difficult to know. I think just as I talked about the warning track for the X-date, I think that it’s very important not to go on the warning track, and we got to get to the other side of this and start reducing the debt. And the debt numbers are indeed scary, but Secretary Yellen and I both agree that it is the debt-to-GDP that is the important number so we are trying to both control the absolute level of debt, pay it down, but also grow the GDP.” As of the end of 2024, the US’s debt-to-GDP ratio was 124%. In the hearing, Bessent, a former partner at Soros Fund Management, also confirmed that he would not be in favor of the Federal Reserve introducing a central bank digital currency (CBDC). “We believe that digital assets belong in the private sector, and my personal view is that having a CBDC is a sign of weakness, not strength. Because really, the reason, if there is a reserve manager, or a foreign central bank holds US dollars, then there is a wide variety of US assets they can invest in. You would create a CBDC just for ease of use because there are no good choices for underlying assets.” Follow us on X, Facebook and Telegram Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Generated Image: DALLE3 Source: https://dailyhodl.com/2025/05/06/treasury-secretary-scott-bessent-warns-us-government-on-scaryand-unsustainable-debt-trajectory/

OpenClaw is a rapidly growing open-source AI agent that can autonomously execute tasks and interact with software, including connecting to crypto exchanges through APIs to analyze markets and automate trading strategies. While this creates new opportunities for smarter trading, it also introduces security and operational risks. Through this article, WEEX aims to help users better understand the potential and risks of AI trading agents so they can explore new technologies while trading more safely and responsibly.

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WEEX P2P update: Country/region restrictions for ad posting

I. Overview

When publishing P2P ads, advertisers can now set the following:

Allow only counterparties from selected countries or regions to trade with your ads.

With this feature, you can:

Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.

II. Applicable scenarios

The following are some common scenarios:

III. How to get started

On the ad posting page, find "Trading requirements":

When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:

If you encounter this issue when placing an order as a regular user, try the following solutions.

IV. Benefits

Compared with ads without country/region restrictions, this feature provides the following improvements.

Aspect

Improvement

Trading security

Reduces abnormal orders and fraud risk

Conversion efficiency

Matches ads with more relevant users

Order completion rate

Reduces failures caused by incompatible payment methods

V. FAQ

Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.

Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.

Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.