2400亿到2万亿！数字暗战打响，稳定币能解决美债危机？

Group 1 - The core viewpoint is that stablecoins are not a solution to the U.S. debt crisis or the potential collapse of the dollar's hegemony, but they are significant in initiating a monetary revolution in the digital realm [1][8] - Stablecoins are digital currencies pegged 1:1 to the U.S. dollar, with their underlying assets primarily consisting of U.S. short-term government bonds and short-term loans secured by these bonds, leading to lower volatility compared to cryptocurrencies like Bitcoin [1][3] - As of May this year, the total scale of global stablecoins reached nearly $240 billion, accounting for 7% of the entire cryptocurrency market, with projections estimating that it could grow to $2 trillion in the next three years [3] Group 2 - The U.S. government's recognition of stablecoins serves multiple purposes, including finding new buyers for U.S. debt to alleviate pressure on the bond market, allowing both compliant and non-compliant funds to flow into U.S. Treasury markets through stablecoins [3][5] - The introduction of stablecoin legislation allows the U.S. government to bypass the Federal Reserve, creating an indirect financing channel that could influence monetary policy and decision-making [5] - The U.S. aims to use stablecoins as a strategic tool to maintain dominance in future financial orders, attempting to integrate digital currencies into the existing financial system to preserve the dollar's status as a global settlement currency [6] Group 3 - Stablecoins present inherent risks, including the potential for loss of control if their scale continues to grow and their ties to traditional finance deepen, which could destabilize the U.S. financial system [6][8] - The private nature of stablecoin issuers raises concerns about their influence on the supply and control of digital dollars, potentially undermining the Federal Reserve's authority [6] - If the U.S. debt situation deteriorates, stablecoins backed by U.S. debt may struggle to maintain their value, leading to a potential collapse that could exacerbate the debt crisis [8]