CoinDesk Podcast Network U.S. Government Shutdown Fear Drags Ether Below $4K | CoinDesk Daily
Sep 25, 2025
The looming threat of a U.S. government shutdown is rattling the crypto markets, pushing Ether below $4K. A recent surge in speculation highlights rising fears of furloughs within government agencies. In other news, Sam Bankman-Fried's social media activity leads to a significant rise in FTT trading. Meanwhile, the FTX Recovery Trust is set to distribute $1.6 billion to creditors as they navigate post-collapse finances. Lastly, European banks are gearing up to launch a euro stablecoin by 2026, marking a new chapter in the crypto landscape.
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Shutdown Risk Pressures Crypto Prices
- Rising odds of a U.S. government shutdown pushed crypto markets into widespread losses.
- Ether plunged over 4% and slipped below $4,000 as shutdown probability spiked.
Markets Price Higher Shutdown Probability
- Polymarket traders priced a government-shutdown 'Yes' at 76 cents, a contract high.
- The Office of Management and Budget asked agencies to prepare furlough plans, signaling serious contingency planning.
SBF's 'GM' Post Spurs FTT Rally
- Former FTX founder Sam Bankman-Fried wrote "GM" on X, prompting a strong market reaction.
- The FTT token jumped about 24% with higher trading volumes and active addresses after the post.