US Treasury Secretary Bessent said he has no authority to use taxpayer dollars to buy the cryptocurrency, when asked by Senator Sherman asked if the Treasury could intervene to “bail out Bitcoin.”
This is a significant statement from Treasury Secretary Bessent, clearly indicating that there is no intent or authority to use taxpayer money for cryptocurrency interventions or bailouts.
Newsquawk Daily Economic Releases - 5th February 2026
US Treasury Secretary Bessent on deposit insurance says he hails idea to stem small bank deposit flight in crisis
US Treasury Secretary Bessent said he has no authority to use taxpayer dollars to buy the cryptocurrency, when asked by Senator Sherman asked if the Treasury could intervene to “bail out Bitcoin.”
Chinese President Xi says he's willing to work with US President Trump in the Chinese New Year, Xinhua reports
US Treasury Secretary Bessent says Iran has a significant shortage of dollars
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This could temper expectations around governmental support for digital assets, potentially reinforcing market skepticism and leading to a reassessment of regulatory risks associated with the crypto space.
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