BlockBeats news, on August 28, BitMEX co-founder Arthur Hayes recently published an article stating that by 2028, the total amount of stablecoins pegged to the US dollar in circulation is expected to reach at least $10 trillion. This figure is significant because the deficit that Bessent has to bear is enormous and growing exponentially. The more Bessent finances the government with treasury bonds, the faster the debt accumulates, as he has to roll over the debt every year.
Therefore, this is a once-in-a-century transformation of the global monetary architecture. 'Perhaps we will never see such an event in our investment careers again. You will never see the pillar industries of DeFi experience such a bull market again, as these pillar industries benefit from the surge of stablecoins pegged to the US dollar.'