Insight: Stablecoin Issuers are Digesting US Treasuries, with Tether Holding Over $100 Billion in US Treasury Bonds

BlockBeats News, August 9th, according to Fortune report, stablecoin issuers such as Circle and Tether are gobbling up more U.S. Treasuries than most countries, which could reshape the U.S. economy. Tether disclosed the latest data showing holdings of over $100 billion in U.S. Treasury bonds, surpassing countries like the UAE and Germany. Cryptocurrency supporters believe that stablecoins will help consolidate the U.S. dollar's dominant position globally, but critics warn that even if stablecoins account for only a small part of the overall market, it could still lead to banking and financial instability, potentially draining funds from bank deposits and reducing bank liquidity.