US Debt Ceiling Deal Boosts Bitcoin and Shiba Inu Prices

The US debt ceiling agreement reached between President Joe Biden and House Speaker Kevin McCarthy appears to have blocked some taxes proposed by the Biden administration, including the Digital Asset Mining Energy (DAME) excise tax, which would have imposed a 30% tax on cryptocurrency mining firms. The DAME tax faced criticism from crypto advocates who argued that it was a pretext to suppress anything that threatens elite power structures. The debt ceiling agreement comes in the form of a comprehensive 99-page bill aimed at suspending the nation's debt limit until 2025, while simultaneously imposing restrictions on government spending.