How $739B in new US debt could absorb crypto’s liquidity before buybacks even reach Bitcoin

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The US Treasury expects to borrow $739 billion from July through September while paying investors to hand back some of its older bonds. The pairing looks self-defeating because both transactions involve the same issuer. However, they are on separate ledgers and solve separate problems: auctions finance the government and create liquid benchmarks, while buybacks retire […] The post How $739B in new US debt could absorb crypto’s liquidity before buybacks even reach Bitcoin appeared first on Crypto