Here’s what happened in crypto today
Today in crypto, Moody’s degrades US credit rating, Bitcoin’s next explosive move could send the asset to $250,000 by the end of 2025, according to analyst Scott Melker, and the co-founder of World Liberty Financial pushes back against US lawmakers’ attempts to probe potential conflicts of interest involving the president.
Moody’s rating agency degrades US credit rating
Moody’s, one of the major credit ratings agencies, downgraded the US government’s creditworthiness from Aaa to Aa1 on May 16, citing increased deficits and a mounting national debt.
According to the announcement, the agency forecasts higher US government debt, fueled by increasing interest expense on the debt, and a lack of cost-cutting measures curtailing government…
