Crypto and the Trump Admin could experience friction over stablecoins.

Some in the Admin want to devalue the $ to spur domestic industry. Others don’t because this would diminish reserve-currency status/global influence.

Bringing stablecoins to billions of people would increase $ demand and make devaluing harder

do you have a sense of the biggest voices backing each of these sides?

So I would say that Stephen Miran is a big proponent of dollar devaluation (pasting a paper he wrote on that), along the Vance and others. Trump has given mixed signals on this (warning BRICS countries from using alternative currencies for trade and also supporting stablecoin legislation, but then embracing the domestic industry idea). I think a lot of Wall Street and military industrial types also want a stronger dollar.

playing /bracket, assisting /bracky, talking /greatbooks

So I would say that Stephen Miran is a big proponent of dollar devaluation (pasting a paper he wrote on that), along the Vance and others. Trump has given mixed signals on this (warning BRICS countries from using alternative currencies for trade and also supporting stablecoin legislation, but then embracing the domestic industry idea). I think a lot of Wall Street and military industrial types also want a stronger dollar. https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf