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U.S. Government Shutdown Fear Drags Ether Below $4K

The crypto market is in a sea of red as the probability of a U.S. government shutdown increases. Polymarket bettors priced the Yes shares of the contract at 76 cents, the highest since the contract's launch in January. What will happen if the government shuts down? CoinDesk’s Jennifer Sanasie hosts “CoinDesk Daily.”


Up Next
USDT Issuer Tether Looking to Raise Up to $20B: Report
USDT Issuer Tether Looking to Raise Up to $20B: Report

Trump Family Backed World Liberty Financial to Launch Debit Card and Retail App
Trump Family Backed World Liberty Financial to Launch Debit Card and Retail App

Kevin Durant Recovers Coinbase Wallet With Bitcoin Bought at $650
Kevin Durant Recovers Coinbase Wallet With Bitcoin Bought at $650

Senate Democrats Question Binance's Ties with Team Trump
Senate Democrats Question Binance's Ties with Team Trump

Crypto Markets Rise on Fed Dovishness
Crypto Markets Rise on Fed Dovishness

Metaplanet Sets Up U.S. and Japan Subsidiaries
Metaplanet Sets Up U.S. and Japan Subsidiaries

PayPal to Allow Direct Transfer of BTC and ETH
PayPal to Allow Direct Transfer of BTC and ETH

Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: Report
Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: Report

Will the US Government’s $345B Deficit Impact Rates?
Will the US Government’s $345B Deficit Impact Rates?

CFTC Chair Nominee Brian Quintenz Takes Dispute With Tyler Winklevoss Public
CFTC Chair Nominee Brian Quintenz Takes Dispute With Tyler Winklevoss Public

BLS Revision Shows 1M Jobs Fewer Than Reported
BLS Revision Shows 1M Jobs Fewer Than Reported

U.S. Money Market Funds Hit Record-High. Is This Bullish for Crypto?
U.S. Money Market Funds Hit Record-High. Is This Bullish for Crypto?

Hyperliquid Faces Community Pushback Against USDH Proposal
Hyperliquid Faces Community Pushback Against USDH Proposal

Tether Held Talks to Invest in Gold Mining: Report
Tether Held Talks to Invest in Gold Mining: Report

CFTC Gives Go-Ahead for Polymarket's New Exchange
CFTC Gives Go-Ahead for Polymarket's New Exchange

Gov. Gavin Newsom Teases Memecoin to Challenge Trump
Gov. Gavin Newsom Teases Memecoin to Challenge Trump

Gold Hits Record $3.5K as Whales Dump Bitcoin
Gold Hits Record $3.5K as Whales Dump Bitcoin

Eric Trump Says U.S. and Beijing Are ‘Leading the Way’ in Crypto
Eric Trump Says U.S. and Beijing Are ‘Leading the Way’ in Crypto

'The Rock' Leads Kamala Harris as 2028 Democratic Presidential Nominee on Polymarket
'The Rock' Leads Kamala Harris as 2028 Democratic Presidential Nominee on Polymarket

Swifties Cash In: Prediction Market Bettors Win Big After Taylor Swift and Travis Kelce Engagement
Swifties Cash In: Prediction Market Bettors Win Big After Taylor Swift and Travis Kelce Engagement

Japan's Finance Minister Says Crypto Can Be Part of Diversified Portfolio
Japan's Finance Minister Says Crypto Can Be Part of Diversified Portfolio

Fed Chair Powell's Dovish Speech Sent Crypto Markets Flying
Fed Chair Powell's Dovish Speech Sent Crypto Markets Flying

Insiders Cash In Millions on Token Tied to Ye
Insiders Cash In Millions on Token Tied to Ye

Trump Family Expands Crypto Empire
Trump Family Expands Crypto Empire

Bo Hines Joins Tether; Wyoming Launches Stablecoin
Bo Hines Joins Tether; Wyoming Launches Stablecoin

Will Powell’s Jackson Hole Speech Move BTC?
Will Powell’s Jackson Hole Speech Move BTC?

Bitcoin Rally Stalls Amid Trump/Putin Meeting Tension and Inflation Concerns
Bitcoin Rally Stalls Amid Trump/Putin Meeting Tension and Inflation Concerns

Bitcoin's Market Cap Soars Past Google's After Hitting New All-Time High
Bitcoin's Market Cap Soars Past Google's After Hitting New All-Time High

Traders See 90% Chance for September Fed Rate Cut After Mixed July CPI Results
Traders See 90% Chance for September Fed Rate Cut After Mixed July CPI Results

Ether Tops $4.3K on Weekend Rally, What's Next?
Ether Tops $4.3K on Weekend Rally, What's Next?

Trump to Greenlight Crypto in 401(k)s
Trump to Greenlight Crypto in 401(k)s

SEC Says Liquid Staking is Outside Securities Laws; Polymarket Bettors Turn Bearish on Bitcoin
SEC Says Liquid Staking is Outside Securities Laws; Polymarket Bettors Turn Bearish on Bitcoin

What Bleeding ETFs Say About BTC and ETH's Next Steps
What Bleeding ETFs Say About BTC and ETH's Next Steps

Base Overtakes Solana in Daily Token Issuance
Base Overtakes Solana in Daily Token Issuance

How Much Money Did Strategy Make in Q2?
How Much Money Did Strategy Make in Q2?

JPMorgan and Coinbase Bring Crypto to the Masses
JPMorgan and Coinbase Bring Crypto to the Masses

SEC Approves In-Kind Creation and Redemption for Spot BTC and ETH ETFs
SEC Approves In-Kind Creation and Redemption for Spot BTC and ETH ETFs

Brian Quintenz’s CFTC Chair Confirmation Delayed by the White House
Brian Quintenz’s CFTC Chair Confirmation Delayed by the White House

PayPal Makes 100 Crypto Available for U.S. Merchant Payments
PayPal Makes 100 Crypto Available for U.S. Merchant Payments

Are CryptoPunks the Internet Status Symbol?
Are CryptoPunks the Internet Status Symbol?

Tesla Shares Are Down, Could Bitcoin Be Its Saving Grace?
Tesla Shares Are Down, Could Bitcoin Be Its Saving Grace?

Ozzy Osbourne's Death Triggers Memecoin Frenzy
Ozzy Osbourne's Death Triggers Memecoin Frenzy

Cathie Wood's ARK Invest Loads Up on ETH Treasury Bet Through Bitmine Shares
Cathie Wood's ARK Invest Loads Up on ETH Treasury Bet Through Bitmine Shares

Trump Signs GENIUS, What Now?
Trump Signs GENIUS, What Now?

'Crypto Week' Back on Track; Coinbase Wallet Becomes 'Base App'
'Crypto Week' Back on Track; Coinbase Wallet Becomes 'Base App'

Congresswoman Says Jerome Powell's Firing Is 'Imminent'
Congresswoman Says Jerome Powell's Firing Is 'Imminent'

June CPI Data Is Here, Will the Fed Cut Rates?
June CPI Data Is Here, Will the Fed Cut Rates?

BTC ATH Sends Satoshi's Bag to the Moon; Crypto Week Starts in Congress
BTC ATH Sends Satoshi's Bag to the Moon; Crypto Week Starts in Congress

What's Different About This Bitcoin Bull Run?
What's Different About This Bitcoin Bull Run?

Justin Sun Wants to Make TRUMP a Global Crypto Brand
Justin Sun Wants to Make TRUMP a Global Crypto Brand

Will Emirates Accept Crypto Payments?
Will Emirates Accept Crypto Payments?

Trump Announces New Tariffs on Japan, South Korea and South Africa
Trump Announces New Tariffs on Japan, South Korea and South Africa

Elon Musk Plans for the 'America Party;' Drake Raps About Bitcoin
Elon Musk Plans for the 'America Party;' Drake Raps About Bitcoin

U.S. Adds Stronger-Than-Expected 147K Jobs, Will Fed Cut Rates?
U.S. Adds Stronger-Than-Expected 147K Jobs, Will Fed Cut Rates?

Companies Pile Into Bitcoin as Grayscale Nabs ETF Green light
Companies Pile Into Bitcoin as Grayscale Nabs ETF Green light

Trump/Musk Feud Continues Over Elon's Subsidies
Trump/Musk Feud Continues Over Elon's Subsidies

Why Trump Would 'Love' Fed Chair Powell to Quit; Strategy Bags Another 4,980 BTC
Why Trump Would 'Love' Fed Chair Powell to Quit; Strategy Bags Another 4,980 BTC

Crypto Lost Over $2.1B to Hacks in First Half of 2025
Crypto Lost Over $2.1B to Hacks in First Half of 2025

Metaplanet Surpasses Tesla in Bitcoin Holdings
Metaplanet Surpasses Tesla in Bitcoin Holdings

Republic to Launch Tokenized Shares in Elon Musk's SpaceX
Republic to Launch Tokenized Shares in Elon Musk's SpaceX

Bitcoin Reclaims $105K as Tensions in the Middle East Ease
Bitcoin Reclaims $105K as Tensions in the Middle East Ease

Arizona Moves Closer to a BTC Reserve; North Korean Hackers Target Crypto Workers with Fake Job Sites
Arizona Moves Closer to a BTC Reserve; North Korean Hackers Target Crypto Workers with Fake Job Sites

Trump Calls for Iran's Surrender; Senate Passes GENIUS Act
Trump Calls for Iran's Surrender; Senate Passes GENIUS Act

Pump.fun and Other Memecoin Accounts Suspended From X
Pump.fun and Other Memecoin Accounts Suspended From X

Strategy Adds Over 10K BTC to Its Bitcoin Treasury
Strategy Adds Over 10K BTC to Its Bitcoin Treasury

Israel's Strikes on Iran Sends Bitcoin Tumbling
Israel's Strikes on Iran Sends Bitcoin Tumbling

Major Step Toward U.S. Stablecoin Bill; GameStop Doubles Down on Bitcoin
Major Step Toward U.S. Stablecoin Bill; GameStop Doubles Down on Bitcoin

Will CPI Reading Boost Bitcoin?
Will CPI Reading Boost Bitcoin?

What's Driving the Bitcoin and Ether Rally?
What's Driving the Bitcoin and Ether Rally?

Bitcoin Climbs as Trump-Musk Drama Fades; Milei Cleared Over LIBRA Promo
Bitcoin Climbs as Trump-Musk Drama Fades; Milei Cleared Over LIBRA Promo

What the Trump-Elon Breakup Means for Crypto
What the Trump-Elon Breakup Means for Crypto

Elon Musk Blasts Trump's One Big Beautiful Bill
Elon Musk Blasts Trump's One Big Beautiful Bill

Will South Korea's New President Launch a New Era for Crypto?
Will South Korea's New President Launch a New Era for Crypto?

U.S.-China Tensions Explode Again
U.S.-China Tensions Explode Again

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CoinDesk TV's quick roundup of the top news of the day that you may have missed in the cryptocurrency, digital assets and Web3 space.

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