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Treasury Secretary Scott Bessent’s endorsement of dollar-pegged stablecoins could redirect up to $34 trillion into decentralized finance protocols. This strategy aims to leverage stablecoin infrastructure to create guaranteed demand for U.S. government debt while transforming global financial flows. The plan specifically benefits protocols like Ethena, Ether.fi, and Hyperliquid through massive capital inflows.
- Stablecoin issuers earn 4.25-4.5% net interest margin by holding T-bills while paying no interest on tokens, creating scalable demand for government debt
- Ethena's USDe could capture 25% market share reaching $2.5 trillion supply by leveraging synthetic dollar yields through crypto derivatives
- Hyperliquid dominates decentralized perpetual trading with 63% market share and processes daily volume equivalent to 26.4% of total stablecoin supply
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Other Tags: Ethena, Ethena USDe, Tether (USDT), US Dollar, Scott Bessent, DeFi, Ether.Fi, Hyperliquid, Meta, Treasury Department