How crypto could save the US from a debt crisis
Crypto could stave off the U.S. debt crisis, according to Former House Speaker Paul Ryan in his recent op-ed published in the Wall Street Journal. Ryan argues that America’s $35.46 trillion and rising debt threatens the U.S. dollar’s status as a global reserve currency. Stablecoins could delay the crisis as they emerge as purchases of U.S. debt.
Stablecoins as a source of demand for U.S. debt
Dollar-backed stablecoins like USDT (USDT) and USD Coin (USDC) hold over $95 billion in U.S. Treasury bills, per their recent reserve reports. As stablecoins continue to grow, providing fiat on-ramp to traders and driving crypto adoption, they could absorb U.S. debt through consistent demand for treasury…
