U.S. Treasury Aims to Maintain Dollar's Dominance with Stablecoins

According to Odaily, Bitwise Chief Investment Officer Matt Hougan shared insights on social media, referencing remarks by U.S. Treasury Secretary Scott Bessent. Bessent emphasized the commitment to ensuring the U.S. dollar remains the leading global reserve currency, with stablecoins playing a crucial role in achieving this objective. Hougan noted that regardless of expectations for the asset management scale of stablecoins, their potential might still be underestimated. He suggested that if stablecoins' assets under management reach trillions of dollars, it could significantly reshape the overall landscape of the cryptocurrency market.