Analysis: Stablecoin issuers such as Circle and Tether are gobbling up U.S. Treasuries, threatening the credit system
2025-08-09 10:08:57
According to an analysis by Fortune magazine, stablecoin issuers such as Circle and Tether are gobbling up more U.S. Treasury bonds than most countries, which could reshape the U.S. economy. Tether disclosed the latest data showing that it holds more than $100 billion in U.S. treasury securities, more than countries such as the United Arab Emirates and Germany. Although cryptocurrency proponents believe that stablecoins will help solidify the dominance of the U.S. dollar on a global scale, critics warn that even if stablecoins make up only a small part of the overall market, they could lead to financial instability in the banking industry, as stablecoins could siphon funds from bank deposits, and since deposits are necessary liquidity for loans, stablecoins are likely to threaten the credit system.
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