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Coinbase CEO fears Bitcoin replaces dollar if US debt grows as Elon Musk calls for firing of 215 Republicans

Brian Armstrong and Elon Musk went on the offensive against government overspending in late-night X posts.

CryptoSlate

Jun 4

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Happy Wednesday!

Crypto’s power players are sounding the alarm as U.S. debt and Bitcoin adoption take center stage. Coinbase CEO Brian Armstrong warns the dollar’s dominance could be at risk, echoing Elon Musk’s call for a political shakeup over government spending. Meanwhile, Binance founder CZ urges caution as more companies consider adding Bitcoin to their treasuries. And in the latest twist, Ripple’s Brad Garlinghouse firmly denies rumors of a $5 billion Circle acquisition. Catch up on the day’s biggest stories shaking up the crypto world below.

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The global crypto market cap is $3.32 trillion, with a 24-hour volume of $106.57 billion. The price of Bitcoin is $105,260.58, and BTC market dominance is 63.0%. The price of Ethereum is $2,656.39, and ETH market dominance is 9.7%. The best-performing sector is Agriculture, which gained 3%. The Crypto Fear & Greed Index is currently Greed (62).