US Treasury Secretary Yellen: US Will Not Default on Debt – Coincu

Janet Yellen, the US Treasury Secretary, stated on June 1st that the United States will never default on its debt, aiming to calm market fears.

Her statement emphasizes the importance of maintaining the US’s financial integrity, especially as Congress is urged to ensure fiscal stability.

Yellen’s Urgent Call to Congress for Fiscal Action

Janet Yellen reiterated her commitment to preventing a debt default during her June 1st statement. Her role as Treasury Secretary involves critical financial responsibilities, underlining her repeated assurances that the US will uphold its financial obligations. Yellen has consistently urged Congress to pass necessary legislation.

Yellen has engaged with lawmakers, highlighting the need to safeguard US creditworthiness. Her comments stress that extraordinary measures may be needed if the debt ceiling remains unaddressed. Though such measures have been employed previously, they underscore the need for legislative action to stabilize national finances. Overview of Current U.S. Debt Limit Situation

Her assurances have had a calming effect on market observers wary of potential financial instability. While US Treasury securities and currency markets have shown resilience, investors remain vigilant. Yellen further stated, “the full faith and credit of the United States must never be used as a bargaining chip.”

Janet L. Yellen, Secretary of the Treasury, – “I continue to strongly believe that the full faith and credit of the United States must never be used as a bargaining chip.” — U.S. Treasury Press Release

Bitcoin Steadies as Fiscal Talks Influence Crypto Markets

Did you know? The 2011 US debt ceiling crisis led to a significant spike in Bitcoin trading volumes as investors sought safety in alternative assets.

According to CoinMarketCap, Bitcoin (BTC) is currently priced at $104,363.85 with a market cap of formatNumber(2074023983239, 2). BTC holds a 63.64% market dominance. Over the past 30 days, BTC increased by 7.71%, reflecting investor interest amid fiscal concerns. The 24-hour trading volume stands at $35,159,975,510, a 28.83% decline, signifying reduced short-term volatility. Data as of June 1, 2025, suggests ongoing steady interest in BTC as a hedge.

The Coincu research highlights that Yellen’s statement may temper volatility in both traditional and crypto markets. Treasury Press Release on Economic Updates Past fiscal uncertainties have nudged investors towards digital assets like BTC, which saw increased demand during previous US debt negotiations. Current market stability remains linked to these ongoing fiscal discussions, affecting digital asset strategies.