According to Chainalysis, Turkey is the leading country for purchasing dollar stablecoins, accounting for 4% of its GDP. The US has found a new way to sell its debt through stablecoins, with issuers holding an equivalent value of T-bills. This strategy targets citizens of financially troubled countries like Turkey.

Why? Despite US debt being at an all-time high, China's holdings of US Treasury bonds are at a 14-year low. See how much countries hold in US Treasury bonds: https://ticdata.treasury.gov/Publish/mfh.txt

The Chainanalysis Report https://x.com/mlphresearch/status/1800872612421406844 https://ik.imagekit.io/lens/media-snapshot/45a463c46c9a75f6c1a0b23f96aba9f485264bce8169b054fc9372914e3ab28d.jpg

🥜 Damn! Thank you for making this topic so accessible!