TLDR
- White House economic adviser Kevin Hassett predicts the 20-day US government shutdown will end this week
- Crypto ETF applications for Litecoin, XRP, and Solana remain delayed at the SEC due to the shutdown
- Democratic Senators will meet with Coinbase, Circle, and Ripple executives Wednesday to discuss crypto legislation
- Republicans want short-term funding at current levels while Democrats demand healthcare spending increases
- Polymarket traders give 71% odds the shutdown continues past 30 days despite White House optimism
White House economic adviser Kevin Hassett announced the US government shutdown will likely conclude this week. The shutdown has now entered its 20th day since starting October 1.
Hassett made the comments during a Monday appearance on CNBC’s Squawk Box. He blamed Senate Minority Leader Chuck Schumer for triggering the shutdown.
“The Schumer shutdown is likely to end sometime this week,” Hassett said. He explained that moderate Democrats will help move forward to reopen the government.
The adviser warned that stronger measures may follow if Democrats refuse to cooperate. Hassett did not specify what those measures might include.
This represents the third longest government shutdown in American history. Federal operations remain disrupted as both parties struggle to reach an agreement.
Crypto ETF Applications Stuck at SEC
The shutdown has created major roadblocks for the cryptocurrency industry. Several high-profile ETF applications await SEC approval.
Applications for Litecoin, XRP, and Solana ETFs cannot move forward. The SEC lacks the staff and resources to process these filings during the shutdown.
Hassett holds personal stakes in the crypto industry. He disclosed holdings worth over $1 million in Coinbase stock earlier this year.
He is also under consideration to replace Jerome Powell as Federal Reserve Chair in May 2026. His crypto advocacy has drawn attention from both supporters and critics.
The shutdown also interrupted progress on Trump’s Strategic Bitcoin Reserve. Lawmakers met with Strategy’s Michael Saylor and 17 other industry leaders in mid-September.
Those discussions centered on the Cynthia Lummis-sponsored BITCOIN Act. The legislation proposes budget-neutral methods for Bitcoin purchases.
Democrats Schedule Crypto Roundtable
Not all crypto regulatory work has stopped. Democratic Senators plan to host industry executives Wednesday.
Leaders from Coinbase, Circle, and Ripple will attend the roundtable. The meeting focuses on advancing the proposed crypto market structure bill.
Republicans are pushing for short-term funding resolution at existing spending levels. Democrats insist on additional healthcare funding and Affordable Care Act tax credit extensions.
Hassett suggested political timing plays a role in the delay. He claimed Democrats are waiting until after weekend protests against President Trump.
“There’s a shot that this week things will come together very quickly,” Hassett said. He believes Democrats will help break the impasse after demonstrations end.
Prediction markets paint a different picture. Polymarket data shows 71% probability the shutdown extends past 30 days.
However, traders increasingly expect resolution between October 23 and 26. That outcome jumped from below 10% probability last week to 35% currently.
The odds of resolution after mid-November dropped to 27%. Trading volumes on Polymarket have surged as investors monitor the situation.
Market analysts watch these developments closely. The timing could influence Federal Reserve rate decisions and crypto market sentiment.
The White House continues expressing optimism about a quick resolution. Hassett’s comments reflect growing frustration within the administration over the extended standoff.
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