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Donald Trump’s Treasury Secretary Predicts $2 Trillion Stablecoin Boom
The post Donald Trump’s Treasury Secretary Predicts $2 Trillion Stablecoin Boom appeared on BitcoinEthereumNews.com. The crypto market erupted in excitement when Donald Trump defeated Kamala Harris in November 2024. Between November 5 and December 8, the total crypto market surged by 63.36%, fueled by optimism around pro-crypto leadership. However, after Trump’s inauguration, market momentum began to cool as the administration adopted a cautious but strategic approach to crypto regulation. Despite this, key pro-crypto policies have been rolled out and prominent crypto-friendly figures have taken top positions in the government. Now, US Treasury Secretary Scott Bessent has issued a strong statement reaffirming the administration’s support for digital assets. In a recent interview, Bessent revealed bold plans to grow the crypto sector under strict but supportive regulatory frameworks. Making it clear that the Trump administration stands firmly behind crypto, Bessent criticized the previous administration’s destructive regulatory stance that disrupted many crypto businesses. He pledged that the current leadership would encourage sustainable innovation through a balanced and improved regulatory structure. Stablecoins to Drive $2 Trillion Demand for U.S. Treasuries? In a major revelation, Bessent projected that stablecoins could generate $2 trillion in short-term demand for U.S. Treasuries and Treasury bills, a dramatic rise from the current demand of $300 billion. Stablecoins, such as Tether (USDT), are typically backed 1:1 with fiat currency like the U.S. dollar and maintain reserves in liquid assets—including government bonds. As these coins gain traction, their issuers are becoming key buyers of U.S. debt instruments, potentially reshaping the treasury market. This surge in demand could: Lower U.S. borrowing costs Bolster the dollar’s global strength Finance more government spending without relying on traditional buyers Tether’s CEO Paolo Ardoino recently backed this vision, asserting that USDT would help solidify the dollar’s dominance globally. Meanwhile, the U.S. Senate is preparing a stablecoin regulatory bill, expected to provide legal clarity and trigger institutional adoption. Rumors suggest that…
The post Donald Trump’s Treasury Secretary Predicts $2 Trillion Stablecoin Boom appeared on BitcoinEthereumNews.com.
The crypto market erupted in excitement when Donald Trump defeated Kamala Harris in November 2024. Between November 5 and December 8, the total crypto market surged by 63.36%, fueled by optimism around pro-crypto leadership. However, after Trump’s inauguration, market momentum began to cool as the administration adopted a cautious but strategic approach to crypto regulation. Despite this, key pro-crypto policies have been rolled out and prominent crypto-friendly figures have taken top positions in the government. Now, US Treasury Secretary Scott Bessent has issued a strong statement reaffirming the administration’s support for digital assets. In a recent interview, Bessent revealed bold plans to grow the crypto sector under strict but supportive regulatory frameworks. Making it clear that the Trump administration stands firmly behind crypto, Bessent criticized the previous administration’s destructive regulatory stance that disrupted many crypto businesses. He pledged that the current leadership would encourage sustainable innovation through a balanced and improved regulatory structure. Stablecoins to Drive $2 Trillion Demand for U.S. Treasuries? In a major revelation, Bessent projected that stablecoins could generate $2 trillion in short-term demand for U.S. Treasuries and Treasury bills, a dramatic rise from the current demand of $300 billion. Stablecoins, such as Tether (USDT), are typically backed 1:1 with fiat currency like the U.S. dollar and maintain reserves in liquid assets—including government bonds. As these coins gain traction, their issuers are becoming key buyers of U.S. debt instruments, potentially reshaping the treasury market. This surge in demand could: Lower U.S. borrowing costs Bolster the dollar’s global strength Finance more government spending without relying on traditional buyers Tether’s CEO Paolo Ardoino recently backed this vision, asserting that USDT would help solidify the dollar’s dominance globally. Meanwhile, the U.S. Senate is preparing a stablecoin regulatory bill, expected to provide legal clarity and trigger institutional adoption. Rumors suggest that…
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