Key Takeaways:
- President Donald Trump signs legislation to reopen the US government.
- The House passes the measure with a 222-209 vote, ending the shutdown.
- Bitcoin, Ethereum, XRP, and the wider crypto market experience a modest recovery.
US President Donald Trump has officially approved a bill that brings an end to the longest government shutdown in US history. Following the announcement, Bitcoin and other major cryptocurrencies like Ethereum (ETH) and XRP saw slight upward movements.
Government Reopens After 43 Days
The White House confirmed that President Trump signed the legislation, reopening federal operations after 43 days of shutdown. This came after the House of Representatives approved the bill with a 222-209 vote.
“The Democrats shutdown has inflicted massive harm. They caused 20,000 flights to be cancelled or delayed,”
Trump stated.
“They deprived more than 1M government workers from their paychecks and cut off food stamp benefits of millions and millions of Americans in need.”
The new law restores pay for roughly 800,000 federal employees affected by furloughs and reactivates government services. However, it does not extend subsidies under the Affordable Care Act or protections for SNAP benefits.
Earlier this week, the Senate passed the funding bill 60-40, marking a bipartisan effort to finally resolve the shutdown after 14 failed attempts.
White House Press Secretary Leavitt noted that crucial October CPI and employment data may never be released due to the shutdown. Meanwhile, Financial Services GOP Chairman French Hill commented on the historic shutdown finally coming to an end.
With the government back in operation, Bitcoin and other digital assets appear to be benefiting from renewed market confidence, highlighting the crypto market’s sensitivity to macroeconomic and political developments.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
