⚔️ Stablecoins are quietly wielding more power than you think 💯 When stablecoin issuers hold large amounts of U.S. Treasury bonds, they are not simply choosing a safe asset to store, but are accumulating structural financial power. First, they become a stable source of demand for US public debt, much like a large bank specializing in buying T-bills, thereby gaining an "unmissable" position in the global USD ecosystem. Alongside this are enormous economic benefits: users holding stablecoins receive virtually no interest, while issuers use tens or hundreds of billions of USD to buy short-term bonds with yields of 4–5%, generating billions of USD in cash flow annually with low risk. Direct funding of the US Treasury also provides legal and political leverage, making stablecoins increasingly XEM as tools to expand the influence of the USD rather than a threat, thus making them harder to "shut down" by policy. At the same time, large bond reserves help stablecoins maintain deep and stable liquidation , reinforcing Vai as a default pricing unit and on/off-ramp in crypto. As a result, stablecoin issuers are gradually positioning themselves as a hybrid between banks and global financial infrastructure: generating stable returns while simultaneously controlling liquidation, and increasingly becoming an integral part of the USD system.