On August 21, according to Anhui Business Daily, a man named Zheng sued Zhao to the Feidong County Court, demanding repayment of the debt. Zhao claimed that the debt had already been repaid to the other party in the form of virtual currency and that the two parties no longer had any debt disputes.

June 27 (Cointime) - Liquidators say founders incurred debt when firm was insolventLosses are part of $3 billion owed to Three Arrows’ creditorsThree Arrows Capital liquidators are seeking to recover $1.3 billion from the co-founders of the failed crypto hedge fund, an amount that reflects losses the founders are accused of racking-up in the months before the firm collapsed, according to a person familiar with the liquidators’ claims.

June 26 (Cointime) -Legendary investor Jim Rogers has warned that the next bear market will be the worst in his 80-year life. Rogers said the current economic situation is similar to the one on the eve of the 2008 financial crisis, but worse. This is bound to lead to a severe bear market in risky assets due to the massive amount of debt built up in the system. He also pointed out that during the inflation crisis of the 1980s, the interest rate on US government treasury bills exceeded 21%, and now financial markets are facing a similar situation. Rogers expects trouble ahead for all markets: real estate, stocks, bonds, and currencies.

European stock markets opened higher on Friday morning following the passing of a bill in the US to raise the debt ceiling and cap government spending for two years. The Stoxx 600 index is currently trading 1% up, with mining stocks up 2.6% and oil and gas climbing 1.3% ahead of the June 4 OPEC+ meeting. The focus now turns to the outlook for the US economy, recession risk, and whether the Federal Reserve will raise, pause or cut interest rates. Meanwhile, European Central Bank President Christine Lagarde has hinted at further rate hikes, but economists say the outlook for July and September is uncertain.

US Treasury yields fell ahead of a vote in Congress on the proposed debt ceiling bill. President Biden and House Speaker Kevin McCarthy reached a deal to raise the nation's debt ceiling, avoiding a potential government default. However, the presidency must still gain Congress' approval before the June 5th deadline. Investors are closely watching the outcome of the debt ceiling vote and taking cues from fiscal data in an uncertain economic climate plagued by rising interest rates. The bill, called the "Fiscal Responsibility 5 Act of 2023", allows the government to borrow more and spend on social welfare schemes, but also calls for cuts to other spending excesses in other areas.

Republican lawmakers are expressing dissatisfaction with the recent debt ceiling deal between US President Joe Biden and House Speaker Kevin McCarthy. Despite relying on the support of Democratic lawmakers to pass the bill in Congress, some Republicans have called the deal "completely unacceptable" and "insanity," citing a lack of substantial spending reductions. McCarthy is confident that the bill will pass, but may have to rely on support from Democrats to prevent a potential default. The last bill to increase the debt ceiling passed with a narrow margin, and Republicans may have to crack the whip against colleagues to ensure its passage.

Bitcoin, the world's largest cryptocurrency, briefly surpassed US$28,000 before dropping below that mark on Monday afternoon in Hong Kong. Ethereum led gains among the top 10 non-stablecoin cryptocurrencies, rising by 2.8% in the 24 hours leading up to 4 p.m. in Hong Kong. U.S. stock futures and European bourses gained while Asian markets were mixed, following a tentative agreement between U.S. President Joe Biden and House Speaker Kevin McCarthy to raise the debt ceiling. The total crypto market volume rose by 56.34% to US$33.67 billion, with total crypto market capitalization gaining 2.04% to US$1.16 trillion in the last 24 hours.

The suspension of the U.S. government's debt ceiling until 2025 has had a positive impact on the global market, with Asian shares and U.S. stock futures seeing a boost. The S&P 500 and Nasdaq futures experienced a 0.2% and 0.4% increase, respectively, while MSCI's broadest index of Asia-Pacific shares outside Japan rose by 0.3%. However, China's bluechips and Hong Kong's Hang Seng index saw a slight dip due to weakened profit data from China's industrial firms. The announcement of the deal also caused a surge in the cryptocurrency market, with Bitcoin and Ethereum registering over 3% growth.

Bitcoin (BTC) surged by over $1,000 to reach a three-week high after the US government announced a deal on the debt ceiling. Ethereum (ETH) also saw gains, reaching $1,900 for the first time since early May. BTC had been trading sideways for most of the previous week, but jumped on Monday to near $28,500, its highest price since May 8. The total crypto market cap exceeded $1.170 trillion, with gains seen across the top 10 altcoins.

The US debt talks are expected to continue over the weekend, and the bears have an advantage due to the talks overshadowing the markets. Avalanche (AVAX) has retested its March lows, and the sellers have consolidated their position following the May 24 FOMC minutes. Bitcoin (BTC) has broken below the $26.6k area due to increased selling pressure, and there is speculation that volatility will continue in the coming days. The RSI on the 12-hour chart has been predominantly below the neutral 50 level since the second half of April, indicating further selling pressure. The capital inflows have faltered, and the overwhelming selling pressure has sent AVAX tumbling sharply. The bearish pressure and weakness in BTC could further tip the scales in favor of the bears. The next support levels are at $13.43, $12.81, and $12.07, which could act as short sell targets. However, if BTC recovers to the $26,600 level, AVAX bulls could gain little leverage. The OI has yet to recover to mid-April levels, further confirming the bearish pressure.