TechFlow news: Arthur Hayes, co-founder of BitMEX, said on Twitter that expected tax receipts will add approximately $200 billion to the Treasury General Account (TGA). The Q2 FY24 refund announcement will be released next week. Below are some potential options for U.S. Treasury Secretary Janet Yellen:
- Deplete the TGA to zero, halt issuance of Treasury bonds, and inject $1 trillion in liquidity.
- Shift more borrowing to short-term Treasury bills, thereby reducing RRP funds and injecting $400 billion in liquidity.
- Combine options 1 and 2—issue only short-term Treasury bills while depleting both the TGA and RRP, injecting $1.4 trillion in liquidity.
If any of these three scenarios occurs, a stock market rebound is expected, and most importantly, the cryptocurrency bull market will re-accelerate.
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