Happy Monday, Blockfolians
The Treasury has announced that it will borrow approximately $3 trillion this quarter to pay for Coronavirus-related relief efforts.
It’s an interesting choice of word - “borrow” - it suggests that there is actually a way to pay it back. Increasingly, many aren’t sure that’s possible.
Breaking911 @Breaking911BREAKING: U.S. Treasury seeks to borrow $3 trillion this quarter alone, nearly 6 times more than the nearest record quarter (July-Sept. 2008) - CNBC
Although he remained supportive of the Administration’s response, Warren Buffett pointed out in his remarks on Saturday night that we were in uncharted territory when it comes to this level of borrowing.
One thing that’s for sure. We’re in uncharted territory.
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Highly Relevant Reading
A Porsche-backed vehicle management blockchain platform has raised a fresh $6m
Iran is getting a new licensed bitcoin farm in advance of the halving
A memo from Senate staffers proposes blockchain as a solution for Senate voting
Ripple paid Moneygram more than $16m in XRP incentives in Q1 2020
The latest season of billions kicked off with a discussion of bitcoin!
One of the interesting revelations of Buffett’s talk was that a number of companies that had come to him for money were able to get better terms from the government.
A Really Big Number We Should Be Paying Attention To
That’s the amount sold in NEAR Protocol’s token sale, led by A16Z
Money printer go brr through the ages