Bessent Bets on Stablecoins to Defend Dollar Dominance
With the 10-year Treasury yield at 5%, the Treasury Secretary is leaning on the dollar's 89.2% share of FX trading and USD-pegged stablecoins to answer concerns about America's debt load.
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With the 10-year Treasury yield at 5%, the Treasury Secretary is leaning on the dollar's 89.2% share of FX trading and USD-pegged stablecoins to answer concerns about America's debt load.
The Treasury Secretary's public commitment signals the administration is treating crypto dominance as an economic policy priority, not just a campaign talking point.
The declaration signals Washington is willing to deploy balance-sheet tools to stabilize the long end of the curve, a posture that carries direct implications for risk assets and borrowing costs.
Treasury's seat at the table signals AI is now treated as economic statecraft, with export controls and chip policy likely on the agenda.
Treasury Secretary Scott Bessent has thrown his weight behind a summer legislative push for the Clarity Act, the…