🇺🇸 Arthur Hayes, co-founder of BitMEX, recently published an article predicting that by 2028, the total amount of dollar-backed stablecoins in circulation will reach at least 10 trillion dollars. This figure is so high due to the enormous and exponentially growing deficit that Bessent must bear. The more Bessent finances the government with Treasury bonds, the faster the accumulation of debt accelerates, as he has to renew the debt every year. Therefore, this represents an unprecedented transformation in the global monetary architecture. "Perhaps we will never see such an event again during our investment career. You will never see such a bull run in the pillar sectors of DeFi, which benefit from the explosion of dollar-backed stablecoins."
