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Benzinga
Benzinga
Business
Murtuza J Merchant

Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says

Scott Bessent Bitmex United States
Top,Five,Cryptocurrency,Stablecoin,Tokens,By,Market,Capitalization,On,March

Arthur Hayes, co-founder of BitMEX, says dollar-pegged stablecoins could become a central tool for U.S. monetary policy, absorbing trillions in offshore deposits and reshaping global finance.

What Happened: In his blog post on Aug. 27, Hayes argued that U.S. Treasury Secretary Scott Bessent may use stablecoins to redirect Eurodollar flows and Global South retail deposits into U.S. debt markets.

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