🏛️ POLICY: Tether and Circle have added about $70B in Treasury bills since 2022, making stablecoins a growing source of short-term US debt demand.

But they still own less than 1% of Treasuries outstanding. Stablecoins can support the bill market at the margin, not replace central banks or major bond buyers.

https://cryptoslate.com/how-stablecoins-are-quietly-becoming-the-feds-debt-buyer-of-last-resort/

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