[Former U.S. Treasury Secretary Summers: Trump Will Realize the High Risks of Criticizing the Fed, Stablecoins Won't Lead to a Surge in Net Demand for U.S. Treasuries] Odaily Planet Daily reports that regarding the rise of stablecoins in the first half of 2025, former U.S. Treasury Secretary Lawrence Summers stated that stablecoins will not significantly increase the market's net demand for U.S. Treasuries, as the large inflows of funds are likely already allocated to Treasuries. He also does not believe that stablecoins can substantially alleviate the burden of fiscal deficits and is skeptical of claims that stablecoins will greatly aid in financing budget deficits. There are two essential regulatory measures for stablecoins: first, preventing bank run scenarios under multiple equilibria, and second, prohibiting anonymous transactions. The justification for the existence of stablecoins should be their ability to facilitate payments and transactions, not because they make it easier for the government to finance debt. Additionally, Summers added that over time, Trump will come to realize what all previous U.S. presidents have understood: 'Fed bashing is a highly risky game.' (Caixin)