Arthur Hayes has laid out a detailed case for why the U.S. government, through Treasury Secretary Scott Bessent's policies, is increasingly leaning on stablecoins as a financial tool to help fund growing federal deficits while keeping bond yields contained.
"The real stablecoin play isn't betting on crusty FinTechs like Circle (NYSE:CRCL), it's understanding that the U.S. government just handed Too Big To Fail (TBTF) banks the launch keys to a multi-trillion-dollar liquidity bazooka disguised as ‘innovation,'" Hayes wrote.
