🚨 Trump’s Secret Crypto Sauce 🤫
- Trump’s Master Plan: Use stablecoins to make the U.S. dollar so dominant, it’ll make other currencies weep with envy 🤣
- Stablecoin bills introduced, because who doesn’t love a good game of “Regulatory Catch-Up”? 🏃♂️
According to Forbes (aka the Trump Administration’s diary), stablecoins are now a key player in the game of “Keep the U.S. Dollar on Top” 🏆. Top officials and a Federal Reserve governor spilled the beans, because, why not? 🤷♀️
In March, Treasury Secretary Scott Bessent (no relation to the B-Team, we hope) announced at the White House crypto summit:
“We’re gonna think really hard about stablecoins… and, you know, keep that dollar on its throne 👑.”
And, in a shocking turn of events, Federal Reserve Governor Christopher Waller echoed similar sentiments in February, proving that great minds think alike… or at least, similarly 😊.
Stablecoin Frenzy: Because Who Doesn’t Love a Good T-Bill? 📈
Secretary Bessent dropped a knowledge bomb: stablecoins are the new cool kids buying up U.S. Treasury bills (T-bills). Tether’s USDT is living its best life, with:
Tether’s CEO, Paolo Ardoino, proudly proclaiming, “Hey, we’re the 7th largest buyer of U.S. T-bills! 🎉 (Just behind Canada and Mexico, but who’s counting? 🤫)
In 2024, they snagged $33 billion worth of T-bills. USDT, the world’s largest stablecoin, is backed by T-bills, cash, and other cash equivalents (aka the adulting version of “under the mattress”).
Circle’s USDC, the second-largest stablecoin, also joined the T-bill party to keep that 1:1 peg to the dollar 💸. Currently, over 99% of the $234 billion stablecoin market is dollar-pegged, giving the U.S. a solid high-five 🙌.
This stablecoin craze has attracted everyone from crypto newbies to governments, because who doesn’t love a good bandwagon? 🎪 This week, Trump-linked World Liberty Financials launched USD1, while Fidelity tested a similar product (aka the “we’re not late to the party, we’re just fashionably delayed” approach 🕺).
Paypal, Stripe, Visa, and other banks are also jumping into the cross-border payments pool, because why not? 🏊♀️
Paolo Ardoino wisely noted, “The stablecoin multiverse is inevitable” 🚀. To keep up, the U.S. Congress introduced two stablecoin bills, the GENIUS and STABLE Acts, because what’s a crypto party without some regulatory clarity? 🎉
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2025-03-29 08:10