Dollars Are for Using. Gold Is for Holding.
The private issuer, the sovereign, and the reserve manager reached the same conclusion about the dollar system from three different directions. The GENIUS Act wrote half of it into law and made the other half illegal.
Every Fix for a Stablecoin Run Ends at the Fed
The design space for making digital dollars run-proof is small, and every exit from it leads to a public balance sheet standing behind private money.
The Next Run on the Bank Won't Look Like a Bank Run
Stablecoins may solve America's Treasury-demand problem. In doing so, they could build the architecture for the next liquidity crisis.
Dig Deeper — Interactive
Read moreSet the Fed funds rate, breakeven inflation, hyperscaler capex and issuance plus more
Strikeline Try it From: The Treasury Market May Not Be Breaking... It May Be Searching for a New PriceSet the adoption curve and the decay rate, then watch how long the market takes
Strikeline Try it From: When AI Eats AlphaBuild the stablecoin boom. Then pull the cash out and watch how it holds the Treasury market together.
MarketAlly Try it From: The Next Run on the Bank Won't Look Like a Bank RunA productivity shock arrives. You decide its incidence and the economy's leverage.
MarketAlly Try it From: The Boom Is the Fuse