Why is the U.S. crazily giving the green light to stablecoins?
Because this is a "dollar recovery plan" jointly designed by Wall Street and Silicon Valley — transforming the cash hoarded by companies into a treasury bond arsenal, and then packaging it as stablecoins to feed the global market.
Companies are making a killing: giants like Amazon and Apple have heaps of cash, which used to earn only 0.1% interest in banks, but now? They buy treasury bonds and issue stablecoins, earning 4% on government bond interest with one hand while collecting transaction fees from users with the other, and can even throw the coins into DeFi pools to roll in profits. Walmart gift cards? Outdated; the future is "Walmart USD" — which can pay for chips and also serve as an income-generating asset.
The U.S. government is smiling: central banks around the world are fervently selling treasury bonds to buy gold, but it doesn’t matter — the trillions of dollars in cash held by companies, billionaires, and hedge funds are now being compelled to buy treasury bonds through stablecoins. Fiscal deficit? Fill it with corporate balance sheets! Inflation pressure? Stablecoins lock in liquidity, and M2 naturally contracts.
Banks are crying: the lessons from the Silicon Valley Bank collapse have made everyone realize that traditional financial intermediaries are risk whirlpools. Now companies can directly issue coins to buy bonds, bypassing banks to take advantage of the interest differential, effectively sharing the "money printing power" with tech giants.
Advice for the crypto world:
1. Keep an eye on compliant players: coins like USDC and PAXG, which have clear collateral audits, are safe havens; shady stablecoins may suddenly be choked by the SEC.
2. Don’t get overconfident in arbitrage: the combination of corporate stablecoins and DeFi looks appealing, but remember the lesson from LUNA in 2022 — collateral transparency is crucial.
3. Bet on the trend: if the U.S. truly treats corporate stablecoins as a national policy, ETH/BTC as underlying collateral will become "digital treasury bonds," holding them long-term is not a loss.
This is essentially a cunning plan to prolong the hegemony of the dollar — replacing central banks with corporate balance sheets and SWIFT with blockchain. Either understand the rules and follow to reap the benefits, or be burned as liquidity fuel.
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