Stablecoins are becoming major players in the US government bond market 🇺🇸
Issuers such as Tether and Circle hold bonds worth more than some countries.
Tether: over $100 billion in government bonds — more than the UAE or Germany.
Supporters: this strengthens the dollar's position in the world.
Critics: the growth of stablecoins could suck liquidity out of banks and threaten the credit system.
