Stablecoins issuing institutions have become the second layer of the Federal Reserve's money printing. The US government has hidden its huge government deficit in the form of US bonds in stablecoin issuance reserves. This approach is much more clever than forcing countries to extend the maturity of US bonds. We have to admire Mr. Trump's efforts: he found unprecedented innovation in the turmoil, and at the same time, let us in the cryptocurrency industry drink soup together.