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🚨📣 : Stablecoin issuers like Circle and Tether have become some of the largest holders of US Treasuries, competing with countries like South Korea and Saudi Arabia. The growing popularity of stablecoins has raised questions about their impact on the broader economy. Critics warn that stablecoins could lead to financial instability in the banking sector, even if they still represent a tiny fraction of the overall market. Tether, the largest issuer of stablecoins, holds over $100 billion in US Treasuries, putting it ahead of countries like the United Arab Emirates and Germany. The stablecoin industry is expected to grow, with Apollo estimating it could reach $2 trillion by 2028. Critics, including banking lobby groups, argue that stablecoins could drain bank deposits and threaten the credit system.